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November 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Electrical Contractors Loan | ||||
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Raising Money in New York, New York With SBA Loans
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Electrical Contractors LoansWith these loans for electrical contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors loan for $750,000 was given to a New York entrepreneur in 2001. This small firm knew how to go about getting a business bank loan. Based in New York, New York, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Business Loan Center, LLC, based in Richmond, Virginia. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS SBA Loan Lender BUSINESS LOAN CENTER, LLC As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235310 - Electrical Contractors Loan Approval Date 2/27/2001 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 30 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 30 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Accountant's Role in Securing Financing Find an SBA Lender in Richmond, Virginia
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