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November 21, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Panama City Beach, Business Loans > Business Loan Center, LLC Panama City Beach Business Loans > Family Clothing Stores Loan | ||||
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Virginia Small Business Funding
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Family Clothing Stores Business LoansWith these business loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $50,000 was given to a Virginia entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Richmond, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Business Loan Center, LLC, based in Panama City Beach, Florida. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448140 - Family Clothing Stores Loan Approval Date 7/17/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Business Loan Center, LLC that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Accountant's Role in Securing Financing Best Banks in Panama City Beach, Florida
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