Business Lenders, LLC Provides SBA Loan to Buy Lady Of America Franchise

Borrowing money to invest in a Lady Of America franchise? Business Lenders, LLC has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Lady Of America franchise? If so, here's a 2001 SBA franchise loan that you should know about. Business Lenders, LLC was the lender and the entrepreneur was based in Flint, Michigan.

SBA Loan Borrower

LADY OF AMERICA
FLINT, MI 48507

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

4/4/2001

Loan Approval Gross Amount

$90,800

Loan Approval from the SBA

Of the total $90,800 loan amount, the SBA guaranteed $77,180.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Lady Of America franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the funding would help generate 3 new jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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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