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December 20, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Bed-And-Breakfast Inns Loan | ||||
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Examples of Rockland SBA Loans
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Get an SBA Loan for Bed-and-Breakfast InnsWith these loans for bed-and-breakfast inns, the SBA guarantees the lender that the loan will be repaid. This bed-and-breakfast inns loan for $675,000 was given to a Maine entrepreneur in 2004. Getting a small business loan in Rockland, Maine was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC, operating out of New York, New York. Here are the details on this Maine small business loan. SBA Loan Borrower COMPANY TYPE: BED-AND-BREAKFAST INNS SBA Loan Lender BUSINESS LOAN CENTER, LLC As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721191 - Bed-and-Breakfast Inns Loan Approval Date 12/20/2004 Loan Approval Gross Amount $675,000 Loan Approval from the SBA Of the total $675,000 loan amount, the SBA guaranteed $506,250. 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Find an SBA Lender in New York, New York
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