Business Loan from Branch Bank & Trust Given to Transportation Equipment And Supplies Company

Branch Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them.

Getting a small business loan in Chantilly, Virginia was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Branch Bank & Trust, operating out of Richmond, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES
CHANTILLY, VA 20151

SBA Loan Lender

BRANCH BANK & TRUST
823 E MAIN ST
RICHMOND, VA 23219

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5088 - Transportation Equipment and Supplies

NAICS Code

423860 - Transportation Equipment and Supplies

Loan Approval Date

6/3/2005

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

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 15 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Branch Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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