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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Blacksburg, Business Loans > National Bank - Blacksburg Blacksburg Business Loans > Drywall And Insulation Contractors Loan | ||||
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Virginia SBA Banks
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Blacksburg, Virginia Bank Lends Money to Drywall And Insulation Contractors Company in Christiansburg, VirginiaGet business loans from a Blacksburg, Virginia bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. National Bank - Blacksburg is a Blacksburg, Virginia small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Virginia company. SBA Loan Borrower COMPANY TYPE: DRYWALL AND INSULATION CONTRACTORS SBA Loan Lender NATIONAL BANK - BLACKSBURG The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 238310 - Drywall and Insulation Contractors Loan Approval Date 9/27/2007 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $45,000. 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 3 employees. The loan application indicated that the loan would help generate 3 new jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Family and Friend Investors - Your First Financiers
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