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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Full-Service Restaurants Loan | ||||
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New York Bank SBA Loans
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Entrepreneur Works With New York, New York Bank to Get an SBA LoanA New York, New York business loan can be yours. Learn how one firm got a $653,000 business loan from this New York bank. This loan to an entrepreneur is a good example of an SBA loan. Business Loan Center, LLC made the loan and the SBA guaranteed a portion of the loan. Many other Ohio entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS 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 722110 - Full-Service Restaurants Loan Approval Date 9/26/2003 Loan Approval Gross Amount $653,000 Loan Approval from the SBA Of the total $653,000 loan amount, the SBA guaranteed $489,750. 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 40 employees. The SBA loan application for the borrower indicated that the loan would help generate 40 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Small Business Banks in New York, New York
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