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November 15, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Convenience Stores Loan | ||||
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Newton SBA Loans
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North Carolina Small Business Loan Issued to Convenience Stores CompanyNorth CarolinaSBA loans are available to North Carolina entrepreneurs through the SBA. In this case, a Virginia bank provides the loan. This company, based in Newton, North Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Business Loan Center, LLC. We've got the inside scoop on this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender provides SBA 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 445120 - Convenience Stores Loan Approval Date 4/5/2002 Loan Approval Gross Amount $410,000 Loan Approval from the SBA Of the total $410,000 loan amount, the SBA guaranteed $307,500. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Advice on Getting a Small Business Loan Small Business Banks in Richmond, Virginia
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