Branch Bank & Trust SBA Loan to Automotive Repair And Maintenance Company
Branch Bank & Trust 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.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Richmond, Virginia was able to borrow $70,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $35,000 of this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
RICHMOND, VA 23230
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
811198 - Automotive Repair and Maintenance
Loan Approval Date
5/2/2007
Loan Approval Gross Amount
$70,000
Loan Approval from the SBA
Of the total $70,000 loan amount, the SBA guaranteed $35,000.
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 4 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.
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SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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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