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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Painting And Wall Covering Contractors Loan | ||||
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Raising Money in Silver Spring, Maryland With SBA Loans
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Financing for Painting and Wall Covering ContractorsLooking for commercial loans for painting and wall covering contractors? An SBA loan may be just what you've been looking for. This $25,000 painting and wall covering contractors loan was issued by a Virginia bank. This business knew how to go about getting a business bank loan. Based in Silver Spring, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Suntrust Bank, based in Richmond, Virginia. SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS SBA Loan Lender SUNTRUST BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 238320 - Painting and Wall Covering Contractors Loan Approval Date 6/14/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 4 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Borrowing Money from Friends and Family SBA Banks in Richmond, Virginia
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