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November 14, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Gasoline Service Stations Loan | ||||
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NY Small Business Loans from Small Business Loan Source LLC
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Rome, New York Business Gets SBA-Guaranteed Funding from Small Business Loan Source LLCSmall Business Loan Source LLC has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rome, New York was able to borrow $579,000 from Small Business Loan Source LLC. The SBA made the loan possible by guaranteeing $434,250 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: GASOLINE SERVICE STATIONS SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5541 - Gasoline Service Stations NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 7/26/2005 Loan Approval Gross Amount $579,000 Loan Approval from the SBA Of the total $579,000 loan amount, the SBA guaranteed $434,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money 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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