Nassawadox, Virginia Entrepreneur Gets a Bank Loan

Want a Virginia business loan? This Virginia entrepreneur got a business loan, provided by a Virginia bank that works with the SBA to help small business owners.

Getting a small business loan in Nassawadox, Virginia was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
Nassawadox, VA 23413

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

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

444190 - Building Material Dealers

Loan Approval Date

11/9/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Nassawadox VA, you ought to talk with a local Nassawadox SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Nassawadox businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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