SBA Loan from Branch Bank & Trust Helps Specialty Trade Contractors Company
An SBA loan from Branch Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Richmond, Virginia business owner got a $50,000 loan.
This small firm knew how to go about getting a business bank loan. Based in Richmond, Virginia, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Branch Bank & Trust, based in Winston Salem, North Carolina.
SBA Loan Borrower
COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
RICHMOND, VA 23234
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
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
238990 - Specialty Trade Contractors
Loan Approval Date
5/30/2006
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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 9 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
The Friends and Family Network
SBA 7A Banks in Winston Salem, North Carolina
Browse All Business Loan Sources for North Carolina