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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Engineering Services Loan | ||||
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Small Business Loan Source LLC Baldwinsville, New York
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Business Loan from Small Business Loan Source LLC Given to Engineering Services CompanySmall Business Loan Source LLC and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Baldwinsville, New York, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Small Business Loan Source LLC, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541330 - Engineering Services Loan Approval Date 4/25/2006 Loan Approval Gross Amount $334,000 Loan Approval from the SBA Of the total $334,000 loan amount, the SBA guaranteed $250,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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:
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