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December 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Linen Supply Loan | ||||
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Bank Loans for Linen SupplyWith these bank loans for linen supply, the SBA guarantees the lender that the loan will be repaid. This linen supply loan for $19,800 was given to a Texas entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brownsville, Texas was able to borrow $19,800 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $16,830 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: LINEN SUPPLY SBA Loan Lender BUSINESS LOAN CENTER, LLC This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812331 - Linen Supply Loan Approval Date 10/18/2004 Loan Approval Gross Amount $19,800 Loan Approval from the SBA Of the total $19,800 loan amount, the SBA guaranteed $16,830. 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 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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: SBA Approved Banks in New York, New York
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