Converted Paper Product Manufacturing Commercial Loans
Looking for commercial loans for converted paper product manufacturing? An SBA loan may be just what you've been looking for. This $200,000 converted paper product manufacturing loan was issued by a Georgia bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newport News, Virginia was able to borrow $200,000 from Suntrust Bank. The SBA made the loan possible by guaranteeing $100,000 of this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: CONVERTED PAPER PRODUCT MANUFACTURING
NEWPORT NEWS, VA 23607
SBA Loan Lender
SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303
This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
322299 - Converted Paper Product Manufacturing
Loan Approval Date
2/10/2005
Loan Approval Gross Amount
$200,000
Loan Approval from the SBA
Of the total $200,000 loan amount, the SBA guaranteed $100,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 17 employees. The loan application indicated that the loan would help retain 17 existing jobs.
Getting an SBA Loan For Your Business
Every year, the SBA guarantees over $10 billion for loans just like this one.
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:
Obtaining Funding - How to Borrow Money
Good Banks for Small Business in Atlanta, Georgia
Georgia SBA Bank Lenders