Richmond, Virginia Bank Gives SBA Loan to Structural Steel And Precast Concrete Contractors Company

Find Richmond, Virginia banks that specialize in business loans and know how to work with entrepreneurs. Suntrust Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Powhatan, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Suntrust Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: STRUCTURAL STEEL AND PRECAST CONCRETE CONTRACTORS
Powhatan, VA 23139

SBA Loan Lender

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

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

238120 - Structural Steel and Precast Concrete Contractors

Loan Approval Date

9/7/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. This SBA loan request indicated that the loan would help retain 30 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Obtaining Funding - How to Borrow Money

Banks in Richmond, Virginia

Getting a Business Loan in Virginia