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November 22, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Motor Vehicle Dealers Loan | ||||
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Best Banks for Businesses in Alabama
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Local Business Gets an Alabama SBA LoanAlabamaBusiness loans are available to Alabama business owners through the SBA. In this case, a Virginia bank provides the loan. This small business, based in Pelham, Alabama, 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 Alabama small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender BUSINESS LOAN CENTER, LLC This commercial loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA promises a rapid loan approval or denial response. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5521 - Motor Vehicle Dealers NAICS Code 441120 - Used Car Dealers Loan Approval Date 12/9/2003 Loan Approval Gross Amount $171,000 Loan Approval from the SBA Of the total $171,000 loan amount, the SBA guaranteed $128,250. More Information on This SBA Loan The borrower borrowed this money for an existing 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 5 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Microlending as a Small Business Funding Source Where to Get an SBA Loan in Richmond, Virginia
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