Commercial Loans for Musical Instrument and Supplies Stores
Looking for commercial loans for musical instrument and supplies stores? Try the SBA. This $5,000 musical instrument and supplies stores loan was issued by a California bank.
Getting a small business loan in Danville, Virginia was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Superior Financial Group, LLC, operating out of Walnut Creek, California. Here are the details on this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES
DANVILLE, VA 24540
SBA Loan Lender
SUPERIOR FINANCIAL GROUP, LLC
165 LENNON LANE, SUITE 101
WALNUT CREEK, CA 94598
This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
451140 - Musical Instrument and Supplies Stores
Loan Approval Date
9/20/2007
Loan Approval Gross Amount
$5,000
Loan Approval from the SBA
Of the total $5,000 loan amount, the SBA guaranteed $4,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.
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.
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