Bank Of America SBA Loan to Concrete Work Company
Want a Virginia business loan? Here's one Virginia business loan that was approved by the SBA.
This growing firm needed an SBA business loan in Chatham, Virginia back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Bank Of America, operating out of Charlotte, North Carolina. Here are the details on this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: CONCRETE WORK
CHATHAM, VA 24531
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
1771 - Concrete Work
Loan Approval Date
4/6/2000
Loan Approval Gross Amount
$42,400
Loan Approval from the SBA
Of the total $42,400 loan amount, the SBA guaranteed $33,920.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America 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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