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December 23, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Switchgear And Switchboard Apparatus Manufacturing Loan | ||||
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SBA Lender Colmar Pennsylvania
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Where to Get Capital for Switchgear and Switchboard Apparatus ManufacturingLooking for small business loans for switchgear and switchboard apparatus manufacturing? An SBA loan may be just what you've been looking for. This $750,000 switchgear and switchboard apparatus manufacturing loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Colmar, Pennsylvania was able to borrow $750,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $562,500 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: SWITCHGEAR AND SWITCHBOARD APPARATUS MANUFACTURING SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender provides SBA debt financing 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 335313 - Switchgear and Switchboard Apparatus Manufacturing Loan Approval Date 10/31/2000 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. 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 45 employees. The SBA loan documents indicated that the loan would help retain 45 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 7A Banks in New York, New York
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