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December 25, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Gloucester, Business Loans > Evb Gloucester Business Loans > Structural Steel Erection Loan | ||||
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SBA 7A Banks for Small Businesses in Virginia
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Evb Gives SBA Loan to Structural Steel Erection CompanyVirginiaSBA loans are available to Virginia entrepreneurs through the SBA. In this case, a Virginia bank provides the loan. This small business, based in Shacklefords, Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Evb. We've got the inside scoop on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: STRUCTURAL STEEL ERECTION SBA Loan Lender EVB This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1791 - Structural Steel Erection NAICS Code 235910 - Structural Steel Erection Contractors Loan Approval Date 1/4/2000 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $28,000. 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 13 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Evb 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: How Much Venture Capital Is There?
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