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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > General Freight Trucking, Local Loan | ||||
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Business Loans for Alexandria Entrepreneurs
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Business Loans for General Freight Trucking, LocalLooking for business loans for general freight trucking, local? Talk to a banker who works with the SBA. This $90,000 general freight trucking, local loan was issued by a Virginia bank. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Suntrust Bank, out of Richmond, Virginia. The loan was granted and they received $90,000 to help grow their Alexandria, Virginia business. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender SUNTRUST BANK This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 484110 - General Freight Trucking, Local Loan Approval Date 6/10/2005 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $45,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source 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 Suntrust 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 From a Venture Capitalist
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