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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Lynchburg, Business Loans > Branch Bank & Trust Lynchburg Business Loans > Offices And Clinics Of Doctors Of Medicine Loan | ||||
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SBA Lender Lynchburg, Virginia
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Lynchburg, Virginia Lender Lends Money to Offices And Clinics Of Doctors Of Medicine CompanyGet small business loans from a Lynchburg, Virginia bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Branch Bank & Trust is a Lynchburg, Virginia small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Virginia company. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE SBA Loan Lender BRANCH BANK & TRUST This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8011 - Offices and Clinics of Doctors of Medicine NAICS Code 621491 - HMO Medical Centers Loan Approval Date 2/28/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Good Banks for Small Business in Lynchburg, Virginia Getting an SBA Loan in Virginia
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