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November 22, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Victory Lane Quick Change Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Lewiston, ME Entrepreneur Gets SBA Loan to Buy Victory Lane Quick Oil Change FranchiseBorrowing money to invest in a Victory Lane Quick Oil Change franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA. If you live near Lewiston, Maine and are interested in buying a Victory Lane Quick Oil Change franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Business Loan Center, LLC. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower VICTORY LANE QUICK CHANGE SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender provides SBA business loans 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 811191 - Automotive Oil Change and Lubrication Shops Loan Approval Date 6/23/2005 Loan Approval Gross Amount $800,000 Loan Approval from the SBA Of the total $800,000 loan amount, the SBA guaranteed $600,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Victory Lane Quick Oil Change franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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. Related Links: Who Lends Money to Small Businesses in New York, New York
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