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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Resource Bank Virginia Beach Business Loans > Special Trade Contractors Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Special Trade Contractors SBA LoansWith these SBA loans for special trade contractors, the SBA guarantees the lender that the loan will be repaid. This special trade contractors loan for $50,000 was given to a Virginia entrepreneur in 2001. This business knew how to go about getting a business bank loan. Based in Virginia Beach, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Resource Bank, based in Virginia Beach, Virginia. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender RESOURCE BANK This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 235990 - Special Trade Contractors Loan Approval Date 12/19/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 32 employees. This SBA loan request indicated that the loan would help retain 32 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Accountant's Role in Securing Financing SBA Participating Banks in Virginia Beach, Virginia Getting an SBA Loan in Virginia
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