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November 21, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Walnut Creek, Business Loans > Superior Financial Group, LLC Walnut Creek Business Loans > Home And Garden Equipment Repair And Maintenance Loan | ||||
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Raising Money in Virginia Beach, Virginia With SBA Loans
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Where to Get Capital for Home and Garden Equipment Repair and MaintenanceLooking for SBA loans for home and garden equipment repair and maintenance? The SBA may be the answer. This $5,000 home and garden equipment repair and maintenance loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Virginia Beach, Virginia was able to borrow $5,000 from Superior Financial Group, LLC. The SBA made the loan possible by guaranteeing $4,250 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE SBA Loan Lender SUPERIOR FINANCIAL GROUP, LLC The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811411 - Home and Garden Equipment Repair and Maintenance Loan Approval Date 1/11/2008 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $4,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Small Business Banks in Walnut Creek, California
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