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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Plastics Product Manufacturing Loan | ||||
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New York Small Business Funding
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Business Loans for Plastics Product ManufacturingLooking for business loans for plastics product manufacturing? Try the SBA. This $1,545,000 plastics product manufacturing loan was issued by a Missouri bank. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Ge Cap. Small Business Finan Corp, out of St. Louis, Missouri. The loan was granted and they received $1,545,000 to help grow their Rochester, New York business. SBA Loan Borrower COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 326199 - Plastics Product Manufacturing Loan Approval Date 2/19/2002 Loan Approval Gross Amount $1,545,000 Loan Approval from the SBA Of the total $1,545,000 loan amount, the SBA guaranteed $999,985. 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 300 employees. The SBA loan documents indicated that the loan would help retain 300 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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