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November 21, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Chevy Chase, Business Loans > Mainstreet Lender 7(a), LLC Chevy Chase Business Loans > General Automotive Repair Loan | ||||
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Mainstreet Lender 7(a), LLC
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Grand Junction, Colorado Business Gets SBA-Guaranteed Funding from Mainstreet Lender 7(a), LLCMainstreet Lender 7(a), LLC is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Colorado entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Grand Junction, Colorado was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Mainstreet Lender 7(a), LLC, operating out of Chevy Chase, Maryland. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender MAINSTREET LENDER 7(A), LLC 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 811111 - General Automotive Repair Loan Approval Date 4/13/2007 Loan Approval Gross Amount $480,000 Loan Approval from the SBA Of the total $480,000 loan amount, the SBA guaranteed $360,000. 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 5 employees. The loan application indicated that the borrowed money would help create 1 new job. Next Steps for Getting an SBA Loan 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Mainstreet Lender 7(a), LLC and they will explain how you can get an SBA loan for your company. 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: Find an SBA Lender in Chevy Chase, Maryland
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