Raising Money for Textile and Fabric Finishing Mills

With these business loans for textile and fabric finishing mills, the SBA guarantees the lender that the loan will be repaid. This textile and fabric finishing mills loan for $990,000 was given to a Virginia entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charles City, Virginia was able to borrow $990,000 from Newtek Small Business Finance Inc.. The SBA made the loan possible by guaranteeing $742,500 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE AND FABRIC FINISHING MILLS
CHARLES CITY, VA 23030

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

313312 - Textile and Fabric Finishing Mills

Loan Approval Date

8/20/2007

Loan Approval Gross Amount

$990,000

Loan Approval from the SBA

Of the total $990,000 loan amount, the SBA guaranteed $742,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Newtek Small Business Finance Inc. 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.

Related Links:

Realistic Debt Financing Options

Find an SBA Lender in New York, New York

New York SBA 7A Lenders