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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Panama City Beach, Business Loans > Business Loan Center, LLC Panama City Beach Business Loans > Automotive Mechanical And Electrical Repair And Maintenance Loan | ||||
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Examples of Troy SBA Loans
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Automotive Mechanical and Electrical Repair and Maintenance SBA LoansWith these SBA loans for automotive mechanical and electrical repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive mechanical and electrical repair and maintenance loan for $50,000 was given to a Michigan entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Troy, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Business Loan Center, LLC, based in Panama City Beach, Florida. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 2/24/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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. This SBA loan request indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We can help you find the best banks for small businesses in Troy or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Raising VC Money for Social Networking Companies Best Banks in Panama City Beach, Florida
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