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December 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Grocery Stores Loan | ||||
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SBA Lender Houston
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Houston, Texas Lender Lends Money to Grocery Stores CompanyWant to talk with a Houston, Texas bank about a business loan? Here's one New Jersey business loan, issued by a Houston bank, that was approved by the SBA. Applying for an SBA loan with Small Business Loan Source LLC worked out well for our friends at one local business in Teaneck, New Jersey. They got an SBA loan for $691,000. Way to go! SBA Loan Borrower COMPANY TYPE: GROCERY STORES 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 SBA small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 4/10/2001 Loan Approval Gross Amount $691,000 Loan Approval from the SBA Of the total $691,000 loan amount, the SBA guaranteed $518,250. 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 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a 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: Realistic Debt Financing Options Where to Get an SBA Loan in Houston, Texas
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