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December 19, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Foundation, Structure, And Building Exterior Contractors Loan | ||||
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Virginia SBA Loan from Suntrust Bank
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Powhatan, Virginia Business Gets SBA-Guaranteed Funding from Suntrust BankSuntrust Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Virginia entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Powhatan, Virginia was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Richmond, Virginia. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: FOUNDATION, STRUCTURE, AND BUILDING EXTERIOR CONTRACTORS SBA Loan Lender SUNTRUST BANK 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 238190 - Foundation, Structure, and Building Exterior Contractors Loan Approval Date 10/17/2005 Loan Approval Gross Amount $179,000 Loan Approval from the SBA Of the total $179,000 loan amount, the SBA guaranteed $89,500. 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 12 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 16 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $179,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Determining Proper Capital Structure for a Business Best Banks for Small Business in Richmond, Virginia Browse All Business Loan Sources for Virginia
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