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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > West Point, Business Loans > Citizens & Farmers Bank West Point Business Loans > Sporting Goods Stores Loan | ||||
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Virginia Bank SBA Loans
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West Point, Virginia Lender Lends Money to Sporting Goods Stores CompanyA West Point, Virginia business loan can be yours. Learn how a business got a $150,000 business loan from this Virginia bank. This loan to an entrepreneur is a good example of an SBA loan. Citizens & Farmers Bank made the loan and the SBA guaranteed a portion of the loan. Many other Virginia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender CITIZENS & FARMERS 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 451110 - Sporting Goods Stores Loan Approval Date 6/5/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 14 employees. The loan application indicated that the loan would help generate 11 new jobs and retain 14 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Richmond or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Find an SBA Lender in West Point, Virginia Getting a Business Loan in Virginia
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