Newport News, Virginia Bank Lends Money to Commercial And Institutional Building Construction Company in Hampton, Virginia

Find Newport News, Virginia banks that specialize in SBA loans and know how to work with entrepreneurs. Townebank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Hampton, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Townebank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
HAMPTON, VA 23661

SBA Loan Lender

TOWNEBANK
1 OLD OYSTER POINT RD, STE 10
NEWPORT NEWS, VA 23602

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

233320 - Commercial and Institutional Building Construction

Loan Approval Date

3/5/2003

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 10 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 30 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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