Richmond, Virginia Bank Gives SBA Loan to Gasoline Service Stations Company
A Richmond, Virginia SBA loan can be yours. Learn how a business got a $1,333,333 business loan from this Virginia 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 Indiana 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: GASOLINE SERVICE STATIONS
GROVERTOWN, IN 46531
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233
This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.
SIC Code
5541 - Gasoline Service Stations
NAICS Code
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
2/28/2002
Loan Approval Gross Amount
$1,333,333
Loan Approval from the SBA
Of the total $1,333,333 loan amount, the SBA guaranteed $1,000,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Business Loan Center, LLC had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Business Loan Center, LLC made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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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