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December 21, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mclean, Business Loans > Cardinal Bank Mclean Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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Banks Doing SBA Loans in Virginia
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Entrepreneur Works With Mclean, Virginia Bank to Get an SBA LoanWant to talk with a Mclean, Virginia bank about a business loan? Here's one Virginia business loan, issued by a Mclean bank, that was approved by the SBA. Applying for an SBA loan with Cardinal Bank worked out well for our friends at one local firm in Alexandria, Virginia. They received an SBA loan for $250,000. Way to go! SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender CARDINAL BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1542 - General Contracting for Nonresidential Buildings NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 1/16/2001 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Cardinal Bank 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 - Getting Venture Capital Find an SBA Lender in Mclean, Virginia Getting an SBA Loan in Virginia
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