Local Business Gets a Virginia Business Loan

Would a Virginia business loan help your company expand? If so, you may want to talk with this Virginia bank, which offers SBA loans to Virginia entrepreneurs.

By giving the right information to Provident Bank Of Maryland, this Sterling (census Name Sterling, Virginia business was able to get an SBA loan. To get this loan, the business owner 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: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
STERLING (CENSUS NAME STERLING, VA 20147

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

The lender provided this small business loan 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

236220 - Commercial and Institutional Building Construction

Loan Approval Date

3/9/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 9 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Sterling (census Name Sterling VA, you ought to talk with a local Sterling (census Name Sterling SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sterling (census Name Sterling businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Provident Bank Of Maryland so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Choosing VC Firms

SBA 7A Banks in Warrenton, Virginia

Virginia SBA Banks