Citizens & Farmers Bank SBA Loan to Beauty Salons Company

An SBA loan from Citizens & Farmers Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Richmond, Virginia business owner got a $20,000 loan.

Getting a small business loan in Richmond, Virginia was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citizens & Farmers Bank, operating out of West Point, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
RICHMOND, VA 23221

SBA Loan Lender

CITIZENS & FARMERS BANK
802 MAIN ST
WEST POINT, VA 23181

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

812112 - Beauty Salons

Loan Approval Date

10/1/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 13 employees. The SBA loan application for the borrower indicated that the loan would help retain 13 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citizens & Farmers Bank and they will explain how you can get an SBA loan for your company.

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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