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November 23, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Hotels And Motels Loan | ||||
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Virginia SBA 7A Lenders
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Richmond, Virginia Lender Lends Money to Hotels And Motels CompanyThinking about meeting with a Richmond, Virginia bank about a business loan? Here's one Michigan business loan, issued by a Richmond bank, that was approved by the SBA. Applying for an SBA loan with Business Loan Center, LLC worked out well for our friends at one local company in Battle Creek, Michigan. The business was able to get an SBA loan for $475,000. Way to go! SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BUSINESS LOAN CENTER, LLC Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 2/27/2002 Loan Approval Gross Amount $475,000 Loan Approval from the SBA Of the total $475,000 loan amount, the SBA guaranteed $356,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Business Loan Center, LLC so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 - How to Borrow Money Best Richmond, Virginia Banks for Small Business
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