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January 3, 2025 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Commercial Printing Loan | ||||
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Virginia Small Business Funding
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Wood Preservation LoansLooking for loans for wood preservation? Try the SBA. This $70,000 wood preservation loan was issued by a Virginia bank. This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Suntrust Bank, out of Richmond, Virginia. The loan was granted and they received $70,000 to help grow their Alexandria, Virginia business. SBA Loan Borrower COMPANY TYPE: COMMERCIAL PRINTING SBA Loan Lender SUNTRUST BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2759 - Commercial Printing NAICS Code 321114 - Wood Preservation Loan Approval Date 11/29/2001 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. 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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: How Much Venture Capital Is There? Find an SBA Lender in Richmond, Virginia SBA Participating Banks in Virginia
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