Richmond, Virginia Bank Lends Money to Machine Tool Manufacturing Company in Richmond, Virginia

Get to know Richmond, Virginia banks that specialize in small business loans and know how to work with entrepreneurs. Suntrust Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Richmond, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Suntrust Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
Richmond, VA 23230

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

The lender provided this loan for a small business 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

333513 - Machine Tool Manufacturing

Loan Approval Date

11/29/2007

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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