Richmond, Virginia Lender Lends Money to Support Activities For Road Transportation Company

Get to know Richmond, Virginia banks that specialize in business loans and know how to work with entrepreneurs. Suntrust Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Woodbridge, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Suntrust Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR ROAD TRANSPORTATION
Woodbridge, VA 22193

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

488490 - Support Activities for Road Transportation

Loan Approval Date

7/29/2004

Loan Approval Gross Amount

$123,200

Loan Approval from the SBA

Of the total $123,200 loan amount, the SBA guaranteed $61,600.

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 did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Suntrust Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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