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November 21, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Plastics, Foil, And Coated Paper Bag Manufacturing Loan | ||||
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Raising Money in Roanoke, Virginia With SBA Loans
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Growing Company Gets a Virginia Small Business LoanVirginiaBank loans are available to Virginia firms through the SBA. In this case, a North Carolina bank provides the loan. By giving the right information to Branch Bank & Trust, this Roanoke, Virginia business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: PLASTICS, FOIL, AND COATED PAPER BAG MANUFACTURING SBA Loan Lender BRANCH BANK & TRUST This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 322223 - Plastics, Foil, and Coated Paper Bag Manufacturing Loan Approval Date 4/20/2005 Loan Approval Gross Amount $615,000 Loan Approval from the SBA Of the total $615,000 loan amount, the SBA guaranteed $461,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The loan application indicated that the loan would help retain 20 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $615,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - Getting Venture Capital SBA 7A Banks in Winston Salem, North Carolina Getting an SBA Loan in North Carolina
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