Citizens & Farmers Bank SBA Loan to Temporary Help Services Company

Citizens & Farmers Bank has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Richmond, Virginia, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Citizens & Farmers Bank, based in West Point, Virginia.

SBA Loan Borrower

COMPANY TYPE: TEMPORARY HELP SERVICES
RICHMOND, VA 23230

SBA Loan Lender

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

This lender processed this SBA bank 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

561320 - Temporary Help Services

Loan Approval Date

3/3/2003

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. This loan was not for a franchise. At the time of the loan, the company had 84 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 89 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens & Farmers Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Small Business Loan

SBA Approved Banks in West Point, Virginia

Getting an SBA Loan in Virginia