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November 14, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Machine Shops Loan | ||||
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Getting an SBA Loan from Business Loan Center, LLC
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SBA Loan from Business Loan Center, LLC Helps Machine Shops CompanyAn SBA loan from Business Loan Center, LLC typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Perkasie, Pennsylvania business owner got a $600,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Perkasie, Pennsylvania was able to borrow $600,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $450,000 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender BUSINESS LOAN CENTER, LLC This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and a thorough understanding of SBA loan requirements. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 3/11/2004 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 19 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 $600,000 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: Dealing With Venture Capitalists Small Bank Loans in New York, New York
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