Business Loans for Specialty Trade Contractors

With these business loans for specialty trade contractors, the SBA guarantees the lender that the loan will be repaid. This specialty trade contractors loan for $900,000 was given to a Virginia entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Virginia Beach, Virginia was able to borrow $900,000 from Resource Bank. The SBA made the loan possible by guaranteeing $675,000 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
VIRGINIA BEACH, VA 23452

SBA Loan Lender

RESOURCE BANK
4429 BONNEY RD, STE 300
VIRGINIA BEACH, VA 23462

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

4/21/2003

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 28 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 28 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in Virginia Beach VA, you ought to talk with a local Virginia Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Virginia Beach businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Startup Funding Tip

Small Business Banks in Virginia Beach, Virginia

SBA Participating Banks in Virginia