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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Midlothian, Business Loans > Village Bank Midlothian Business Loans > New Single-Family Housing Construction Loan | ||||
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Village Bank
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Village Bank SBA Loan to New Single-Family Housing Construction CompanyVillage Bank has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Chester, Virginia, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Village Bank, based in Midlothian, Virginia. SBA Loan Borrower COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender VILLAGE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 236115 - New Single-Family Housing Construction Loan Approval Date 6/19/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 3 existing jobs. Getting an SBA Loan For Your 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Find an SBA Lender in Midlothian, Virginia Getting an SBA Loan in Virginia
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