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November 23, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Gasoline Service Stations Loan | ||||
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SBA Lender Richmond, Virginia
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Entrepreneur Works With Richmond, Virginia Bank to Get an SBA LoanA Richmond, Virginia SBA loan can be yours. Learn how a business got a $1,167,000 business loan from this Virginia bank. This loan to an entrepreneur is a good example of an SBA loan. Business Loan Center, LLC made the loan and the SBA guaranteed a portion of the loan. Many other Washington entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: GASOLINE SERVICE STATIONS SBA Loan Lender BUSINESS LOAN CENTER, LLC When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program is designed to give fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. 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 7/29/2005 Loan Approval Gross Amount $1,167,000 Loan Approval from the SBA Of the total $1,167,000 loan amount, the SBA guaranteed $875,250. 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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Business Loan Center, LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Where to Get an SBA Loan in Richmond, Virginia SBA Participating Banks in Virginia
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