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May 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Ashland, Business Loans > Union Bank And Trust Company Ashland Business Loans > Engineering Services Loan | ||||
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Ashland, Virginia SBA 7A Banks
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Ashland, Virginia Bank Gives SBA Loan to Engineering Services CompanyFind Ashland, Virginia banks that specialize in SBA loans and know how to work with entrepreneurs. Union Bank And Trust Company is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Ashland, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Union Bank And Trust Company. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender UNION BANK AND TRUST COMPANY This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8711 - Engineering Services NAICS Code 541330 - Engineering Services Loan Approval Date 2/26/2002 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. 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. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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. Related Links: Obtaining Funding - Getting Venture Capital
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