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November 14, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Chevy Chase, Business Loans > Mainstreet Lender 7(a), LLC Chevy Chase Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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Maryland SBA Lenders
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Entrepreneur Works With Chevy Chase, Maryland Bank to Get an SBA LoanGet to know Chevy Chase, Maryland banks that specialize in business loans and know how to work with entrepreneurs. Mainstreet Lender 7(a), LLC is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Paragould, Arkansas starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Mainstreet Lender 7(a), LLC. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender MAINSTREET LENDER 7(A), LLC This SBA small business 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 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 11/9/2005 Loan Approval Gross Amount $1,250,000 Loan Approval from the SBA Of the total $1,250,000 loan amount, the SBA guaranteed $937,500. 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 40 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: SBA Approved Banks in Chevy Chase, Maryland
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