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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Christiansburg, Business Loans > First National Bank Christiansburg Business Loans > Machine Shops Loan | ||||
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Small Business Banks for Town Of Narrows, Virginia Entrepreneurs
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First National Bank Gives Small Business Loan to Machine Shops CompanyBusiness loans in Virginia are are few and far betweeen these days. We take a look at one Virginia business loan, provided by a Virginia bank, that was approved by the SBA. This company, based in Town Of Narrows, 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 First National Bank. We've got the inside scoop on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender FIRST NATIONAL 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 332710 - Machine Shops Loan Approval Date 7/2/2007 Loan Approval Gross Amount $68,000 Loan Approval from the SBA Of the total $68,000 loan amount, the SBA guaranteed $34,000. 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 only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Town Of Narrows or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Banks for Small Business in Christiansburg, Virginia
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