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November 24, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Towson, Business Loans > Manufacturers & Traders Trust Towson Business Loans > Title Abstract And Settlement Offices Loan | ||||
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Virginia Small Business SBA Loans
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Fairfax, Virginia Entrepreneur Gets a Business LoanVirginiaBusiness loans are available to Virginia business owners through the SBA. In this case, a Maryland bank provides the loan. You can learn something about getting a small business loan in Fairfax, Virginia by studying this loan to a local business, made back in 2005. Banks like Manufacturers & Traders Trust may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: TITLE ABSTRACT AND SETTLEMENT OFFICES SBA Loan Lender MANUFACTURERS & TRADERS TRUST The lender provided this bank 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 541191 - Title Abstract and Settlement Offices Loan Approval Date 2/17/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs. Start the Process for Getting an SBA Loan Today! 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. 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: Best Banks in Towson, Maryland
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