Borrowing Money for Shellfish Fishing

Looking for loans for shellfish fishing? Talk to a banker who works with the SBA. This $835,000 shellfish fishing loan was issued by a Virginia bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Business Loan Center, LLC, out of Richmond, Virginia. The loan was granted and they received $835,000 to help grow their Amelia, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH
AMELIA, LA 70530

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0913 - Shellfish

NAICS Code

114112 - Shellfish Fishing

Loan Approval Date

6/13/2002

Loan Approval Gross Amount

$835,000

Loan Approval from the SBA

Of the total $835,000 loan amount, the SBA guaranteed $626,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Obtaining Funding From a Venture Capitalist

SBA 7A Banks for Richmond, Virginia Loans

Virginia SBA 7A Lenders