SBA Loan from The Fauquier Bank Helps Flooring Contractors Company

An SBA loan from The Fauquier Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Broad Run, Virginia business owner got a $100,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Broad Run, Virginia was able to borrow $100,000 from The Fauquier Bank. The SBA made the loan possible by guaranteeing $50,000 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOORING CONTRACTORS
BROAD RUN, VA 20137

SBA Loan Lender

THE FAUQUIER BANK
10 COURTHOUSE SQ
WARRENTON, VA 20186

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

238330 - Flooring Contractors

Loan Approval Date

11/16/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 13 employees. This SBA loan request indicated that the borrowed money would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from The Fauquier Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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