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December 24, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Panama City Beach, Business Loans > Business Loan Center, LLC Panama City Beach Business Loans > Pet Care Services Loan | ||||
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Raising Money in San Juan, Texas With SBA Loans
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Pet Care Services Commercial LoansWith these commercial loans for pet care services, the SBA guarantees the lender that the loan will be repaid. This pet care services loan for $25,000 was given to a Texas entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Juan, Texas was able to borrow $25,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $21,250 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: PET CARE SERVICES SBA Loan Lender BUSINESS LOAN CENTER, LLC The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812910 - Pet Care Services Loan Approval Date 9/8/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Small Bank Loans in Panama City Beach, Florida SBA Participating Banks in Florida
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