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November 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Warrenton, Business Loans > Provident Bank Of Maryland Warrenton Business Loans > General Automotive Repair Loan | ||||
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Virginia SBA Loans from Provident Bank Of Maryland
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Business Loan from Provident Bank Of Maryland Given to General Automotive Repair CompanyProvident Bank Of Maryland and the SBA work together to get business loans for growing small businesses. Here's an example of how a Virginia entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Provident Bank Of Maryland, out of Warrenton, Virginia. The loan was granted and they received $197,000 to help grow their Sterling (census Name Sterling, Virginia business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender PROVIDENT BANK OF MARYLAND This lender provides SBA small business 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 811111 - General Automotive Repair Loan Approval Date 10/15/2002 Loan Approval Gross Amount $197,000 Loan Approval from the SBA Of the total $197,000 loan amount, the SBA guaranteed $147,750. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: SBA Approved Banks in Warrenton, Virginia
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