Where to Get Capital for Household Vacuum Cleaner Manufacturing

Looking for small business loans for household vacuum cleaner manufacturing? Talk to a banker who works with the SBA. This $250,000 household vacuum cleaner manufacturing loan was issued by a Virginia bank.

This company knew how to go about getting a business bank loan. Based in Roanoke, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Branch Bank & Trust, based in Richmond, Virginia.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD VACUUM CLEANERS
ROANOKE, VA 24017

SBA Loan Lender

BRANCH BANK & TRUST
823 E MAIN ST
RICHMOND, VA 23219

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3635 - Household Vacuum Cleaners

NAICS Code

335212 - Household Vacuum Cleaner Manufacturing

Loan Approval Date

3/26/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Branch Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Raising Venture Capital

SBA Participating Banks in Richmond, Virginia

Getting a Business Loan in Virginia