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December 21, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Windsor, Business Loans > Ups Capital Business Credit Windsor Business Loans > Sheet Metal Work Loan | ||||
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Windsor Bank Loan
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Windsor, Connecticut Bank Lends Money to Sheet Metal Work Company in Newport News, VirginiaWant to talk with a Windsor, Connecticut bank about an SBA loan? Here's one Virginia business loan, issued by a Windsor bank, that was approved by the SBA. Applying for an SBA loan with Ups Capital Business Credit worked out well for our friends at one local firm in Newport News, Virginia. They got an SBA loan for $215,000. Awesome! SBA Loan Borrower COMPANY TYPE: SHEET METAL WORK SBA Loan Lender UPS CAPITAL BUSINESS CREDIT Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3444 - Sheet Metal Work NAICS Code 332710 - Machine Shops Loan Approval Date 12/13/2000 Loan Approval Gross Amount $215,000 Loan Approval from the SBA Of the total $215,000 loan amount, the SBA guaranteed $161,250. 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 28 employees. The loan application indicated that the loan would help retain 28 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: SBA 7A Banks in Windsor, Connecticut Getting a Business Loan in Connecticut
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