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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Beer, Wine, And Liquor Stores Loan | ||||
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Small Business Banks in Massachusetts
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Raising Money for Beer, Wine, and Liquor StoresLooking for bank loans for beer, wine, and liquor stores? An SBA loan may be just what you've been looking for. This $225,000 beer, wine, and liquor stores loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Yarmouth, Massachusetts was able to borrow $225,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $168,750 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender BUSINESS LOAN CENTER, LLC Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 8/16/2002 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 indicated that the loan would help generate 1 new job and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Obtaining Funding - How to Decide How Much to Raise Best Banks for Small Business in Richmond, Virginia
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