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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Specialty Trade Contractors Loan | ||||
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SBA Lender Richmond
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Richmond, Virginia Lender Lends Money to Specialty Trade Contractors CompanyGet to know Richmond, Virginia banks that specialize in small business loans and know how to work with entrepreneurs. Suntrust Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Huntingtown, Maryland starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Suntrust Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SPECIALTY TRADE CONTRACTORS SBA Loan Lender SUNTRUST BANK 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 238990 - Specialty Trade Contractors Loan Approval Date 6/13/2006 Loan Approval Gross Amount $279,000 Loan Approval from the SBA Of the total $279,000 loan amount, the SBA guaranteed $139,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 23 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 23 existing jobs. Start the Process for Getting an SBA Loan Today! If you need business start up money in Huntingtown MD, you ought to talk with a local Huntingtown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Huntingtown businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Suntrust Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Richmond, Virginia Banks for Small Business
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