Business Loan Center, LLC SBA Loan to Drinking Places Company

Business Loan Center, 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 Michigan entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Newaygo, Michigan was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC, operating out of Richmond, Virginia. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
NEWAYGO, MI 49337

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

5/21/2002

Loan Approval Gross Amount

$230,000

Loan Approval from the SBA

Of the total $230,000 loan amount, the SBA guaranteed $172,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Newaygo MI, you ought to talk with a local Newaygo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newaygo 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 Business Loan Center, 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:

Getting a Small Business Loan

Find an SBA Lender in Richmond, Virginia

Virginia SBA 7A Lenders