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November 14, 2024 |
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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 > Full-Service Restaurants Loan | ||||
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How to Get SBA Loans in Petersburg, Virginia
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Full-Service Restaurants Bank LoansLooking for bank loans for full-service restaurants? The SBA may be the answer. This $500,000 full-service restaurants loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Petersburg, Virginia was able to borrow $500,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $375,000 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BUSINESS LOAN CENTER, LLC This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/8/2006 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 17 employees. The SBA loan documents indicated that the loan would help generate 17 new jobs and retain 17 existing jobs. 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: How Much Venture Capital Is There? Small Business Banks in New York, New York
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