Financing for General Merchandise Stores

Looking for commercial loans for general merchandise stores? An SBA loan may be just what you've been looking for. This $150,000 general merchandise stores loan was issued by a Virginia bank.

This small business knew how to go about getting a business bank loan. Based in Charlotte, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Suntrust Bank, based in Richmond, Virginia.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
Charlotte, NC 28204

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

This lender processed this SBA bank 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

452990 - General Merchandise Stores

Loan Approval Date

9/6/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 20 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Bank Credit Lines

Small Business Banks in Richmond, Virginia

SBA Lenders in Virginia