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January 26, 2025 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Retail Stores Loan | ||||
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SBA Lender Virginia
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Business Loan from Business Loan Center, LLC Given to Retail Stores CompanyBusiness Loan Center, LLC has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Occoquan, Virginia was able to borrow $315,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $236,250 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores Loan Approval Date 8/9/2000 Loan Approval Gross Amount $315,000 Loan Approval from the SBA Of the total $315,000 loan amount, the SBA guaranteed $236,250. 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 7 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $315,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Best New York, New York Banks for Small Business Where to Get an SBA Loan New York
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