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November 24, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Water And Sewer Line And Related Structures Construction Loan | ||||
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Raising Money in Palmyra, Virginia With SBA Loans
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Water and Sewer Line and Related Structures Construction LoansWith these loans for water and sewer line and related structures construction, the SBA guarantees the lender that the loan will be repaid. This water and sewer line and related structures construction loan for $59,500 was given to a Virginia entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palmyra, Virginia was able to borrow $59,500 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $29,750 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: WATER AND SEWER LINE AND RELATED STRUCTURES CONSTRUCTION SBA Loan Lender BRANCH BANK & TRUST 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 237110 - Water and Sewer Line and Related Structures Construction Loan Approval Date 8/11/2006 Loan Approval Gross Amount $59,500 Loan Approval from the SBA Of the total $59,500 loan amount, the SBA guaranteed $29,750. 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 5 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. Getting an SBA Loan For Your Business 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $59,500 loan. Remember, fight for what you want, and it will be yours! 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: Banks in Winston Salem, North Carolina
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