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November 14, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Hotels And Motels Loan | ||||
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Business Loan Center, LLC Business Loans New York, New York
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New York, New York Business Gets SBA-Guaranteed Funding from Business Loan Center, LLCBusiness Loan Center, LLC and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Business Loan Center, LLC, out of New York, New York. The loan was granted and they received $1,250,000 to help grow their New York, New York business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS 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. SIC Code 7011 - Hotels and Motels Loan Approval Date 3/27/2000 Loan Approval Gross Amount $1,250,000 Loan Approval from the SBA Of the total $1,250,000 loan amount, the SBA guaranteed $750,000. 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 only one employee. The loan application indicated that the borrowed money would help generate 7 new 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Business Loan Center, LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Find an SBA Lender in New York
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