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December 23, 2024  
 
 
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New York, New York Bank Lends Money to Petroleum And Petroleum Products Company in Port Carbon, Pennsylvania

Want to talk with a New York, New York bank about a small business loan? Here's one Pennsylvania business loan, issued by a New York bank, that was approved by the SBA.

Applying for an SBA loan with Business Loan Center, LLC worked out well for our friends at one local company in Port Carbon, Pennsylvania. They received an SBA loan for $1,235,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS
PORT CARBON, PA 17965

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and are well trained in SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5172 - Petroleum and Petroleum Products

NAICS Code

422720 - Petroleum and Petroleum Products Wholesalers

Loan Approval Date

7/14/2000

Loan Approval Gross Amount

$1,235,000

Loan Approval from the SBA

Of the total $1,235,000 loan amount, the SBA guaranteed $749,991.

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 43 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Business Loan Center, LLC are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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