Financing for General Rental Centers
With these loans for general rental centers, the SBA guarantees the lender that the loan will be repaid. This general rental centers loan for $528,000 was given to a Texas entrepreneur in 2002.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Carrollton, Texas was able to borrow $528,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $396,000 of this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: GENERAL RENTAL CENTERS
CARROLLTON, TX 75007
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
532310 - General Rental Centers
Loan Approval Date
7/2/2002
Loan Approval Gross Amount
$528,000
Loan Approval from the SBA
Of the total $528,000 loan amount, the SBA guaranteed $396,000.
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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source
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:
Getting a Small Business Loan
Who Lends Money to Small Businesses in New York, New York
Getting an SBA Loan in New York