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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Herndon, Business Loans > Millennium Bank Herndon Business Loans > Electrical Work Loan | ||||
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Millennium Bank
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SBA Loan from Millennium Bank Helps Electrical Work CompanyAn SBA loan from Millennium Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bealeton, Virginia business owner got a $500,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bealeton, Virginia was able to borrow $500,000 from Millennium Bank. The SBA made the loan possible by guaranteeing $375,000 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL WORK SBA Loan Lender MILLENNIUM BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1731 - Electrical Work NAICS Code 238210 - Electrical Contractors and Wiring Installation Contractors Loan Approval Date 5/20/2004 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 55 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Millennium Bank and they will explain how you can get an SBA loan for your company. 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: A Company That Helps Entrepreneurs SBA 7A Banks in Herndon, Virginia
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