Business Loan Center, LLC SBA Loan to Hotels And Motels Company

An SBA loan from Business Loan Center, LLC typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Wildwood, New Jersey business owner got a $1,320,000 loan.

This business knew how to go about getting a business bank loan. Based in Wildwood, New Jersey, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Business Loan Center, LLC, based in Richmond, Virginia.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WILDWOOD, NJ 08260

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

5/22/2002

Loan Approval Gross Amount

$1,320,000

Loan Approval from the SBA

Of the total $1,320,000 loan amount, the SBA guaranteed $669,992.

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 3 employees. The loan application indicated that the funding would help generate 3 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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