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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Used Car Dealers Loan | ||||
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Small Business Banks in Texas
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Used Car Dealers Commercial LoansWith these commercial loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $173,000 was given to a Texas entrepreneur in 2003. This business knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Business Loan Center, LLC, based in New York, New York. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441120 - Used Car Dealers Loan Approval Date 5/15/2003 Loan Approval Gross Amount $173,000 Loan Approval from the SBA Of the total $173,000 loan amount, the SBA guaranteed $129,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks for New York, New York Loans
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