Peoples Bank Of Virginia SBA Loan to Building Finishing Contractors Company

Peoples Bank Of Virginia has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Peoples Bank Of Virginia, out of Richmond, Virginia. The loan was granted and they received $115,000 to help grow their Midlothian, Virginia business.

SBA Loan Borrower

COMPANY TYPE: BUILDING FINISHING CONTRACTORS
MIDLOTHIAN, VA 23114

SBA Loan Lender

PEOPLES BANK OF VIRGINIA
2702 N PARHAM RD
RICHMOND, VA 23294

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

238390 - Building Finishing Contractors

Loan Approval Date

3/11/2005

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $57,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. This SBA loan request indicated that the loan would help create 5 new jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Peoples Bank Of Virginia so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Small Business Loan

SBA Approved Banks in Richmond, Virginia

Virginia SBA Banks