Farmville, Virginia Business Gets SBA-Guaranteed Funding from Business Loan Center, LLC
An SBA loan from Business Loan Center, LLC typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Farmville, Virginia business owner got a $368,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Farmville, Virginia was able to borrow $368,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $276,000 of this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
FARMVILLE, VA 23901
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019
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
721110 - Hotels and Motels
Loan Approval Date
12/31/2003
Loan Approval Gross Amount
$368,000
Loan Approval from the SBA
Of the total $368,000 loan amount, the SBA guaranteed $276,000.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.
Getting an SBA Loan For Your Business
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $368,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Business Credit Evaluation
SBA Participating Banks in New York, New York
SBA New York Banks