Borrowing Money for Farm Supplies Merchant Wholesalers

Looking for small business loans for farm supplies merchant wholesalers? The SBA may be the answer. This $300,000 farm supplies merchant wholesalers loan was issued by a Virginia bank.

Getting a small business loan in Carrsville, Virginia was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Suffolk, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES
CARRSVILLE, VA 23315

SBA Loan Lender

SUNTRUST BANK
123 N MAIN ST
SUFFOLK, VA 23434

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5191 - Farm Supplies

NAICS Code

424910 - Farm Supplies Merchant Wholesalers

Loan Approval Date

9/19/2005

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 4 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Suntrust Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Suntrust Bank 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:

Business Incubators

SBA Participating Banks in Suffolk, Virginia

Virginia SBA 7A Lenders