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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Chesapeake, Business Loans > Monarch Bank Chesapeake Business Loans > Drycleaning And Laundry Services Loan | ||||
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Monarch Bank
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Monarch Bank SBA Loan to Drycleaning And Laundry Services CompanyAn SBA loan from Monarch Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chesapeake, Virginia business owner got a $112,000 loan. This growing company knew how to go about getting a business bank loan. Based in Chesapeake, Virginia, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Monarch Bank, based in Chesapeake, Virginia. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender MONARCH BANK This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 812320 - Drycleaning and Laundry Services Loan Approval Date 4/20/2004 Loan Approval Gross Amount $112,000 Loan Approval from the SBA Of the total $112,000 loan amount, the SBA guaranteed $56,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $112,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Banks in Chesapeake, Virginia SBA Participating Banks in Virginia
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