How to Get a Loan for Ship Building and Repairing

With these business loans for ship building and repairing, the SBA guarantees the lender that the loan will be repaid. This ship building and repairing loan for $500,000 was given to a Virginia entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Heritage Bank, out of Norfolk, Virginia. The loan was granted and they received $500,000 to help grow their Norfolk, Virginia business.

SBA Loan Borrower

COMPANY TYPE: SHIPBUILDING AND SHIP REPAIRING
NORFOLK, VA 23517

SBA Loan Lender

HERITAGE BANK
4815 COLLEY AVE
NORFOLK, VA 23508

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3731 - Shipbuilding and Ship Repairing

NAICS Code

336611 - Ship Building and Repairing

Loan Approval Date

5/28/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 49 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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How to Get a Loan for Ship Building and Repairing