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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Fredericksburg, Business Loans > Second Bank & Trust Fredericksburg Business Loans > Business Consulting Services Loan | ||||
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SBA Lender Fredericksburg
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Fredericksburg, Virginia Bank Lends Money to Business Consulting Services Company in Orange, VirginiaA Fredericksburg, Virginia small business loan can be yours. Learn how a business got a $243,000 business loan from this Virginia bank. This loan to an entrepreneur is a good example of an SBA loan. Second Bank & Trust made the loan and the SBA guaranteed a portion of the loan. Many other Virginia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BUSINESS CONSULTING SERVICES SBA Loan Lender SECOND BANK & TRUST This 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 8748 - Business Consulting Services NAICS Code 541618 - Management Consulting Services Loan Approval Date 3/9/2001 Loan Approval Gross Amount $243,000 Loan Approval from the SBA Of the total $243,000 loan amount, the SBA guaranteed $121,500. 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 27 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start business in Orange VA, you ought to talk with a local Orange SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Orange 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 Lenders in Fredericksburg, Virginia
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