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November 24, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Car Washes Loan | ||||
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Examples of Caldwell SBA Loans
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Commercial Loans for Car WashesLooking for commercial loans for car washes? The SBA may be the answer. This $604,000 car washes loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Caldwell, West Virginia was able to borrow $604,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $453,000 of this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender BUSINESS LOAN CENTER, LLC This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 10/24/2000 Loan Approval Gross Amount $604,000 Loan Approval from the SBA Of the total $604,000 loan amount, the SBA guaranteed $453,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Banks in New York, New York Find an SBA Lender in New York
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