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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Bristol, Business Loans > 1st Bank & Trust Bristol Business Loans > Services For The Elderly And Persons With Disabilities Loan | ||||
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Bristol Bank Loan
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Entrepreneur Works With Bristol, Virginia Bank to Get an SBA LoanThinking about meeting with a Bristol, Virginia bank about an SBA loan? Here's one Virginia business loan, issued by a Bristol bank, that was approved by the SBA. Applying for an SBA loan with 1st Bank & Trust worked out well for our friends at one local firm in Bristol, Virginia. They got an SBA loan for $55,500. Nice! SBA Loan Borrower COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES SBA Loan Lender 1ST BANK & TRUST 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. NAICS Code 624120 - Services for the Elderly and Persons with Disabilities Loan Approval Date 8/4/2004 Loan Approval Gross Amount $55,500 Loan Approval from the SBA Of the total $55,500 loan amount, the SBA guaranteed $47,175. 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 27 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Who Lends Money to Small Businesses in Bristol, Virginia Getting an SBA Loan in Virginia
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