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May 14, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Floyd, Business Loans > Bank Of Floyd Floyd Business Loans > Costume Jewelry And Novelty Manufacturing Loan | ||||
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SBA 7A Banks in Virginia
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Borrowing Money for Costume Jewelry and Novelty ManufacturingWith these loans for costume jewelry and novelty manufacturing, the SBA guarantees the lender that the loan will be repaid. This costume jewelry and novelty manufacturing loan for $45,000 was given to a Virginia entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Blacksburg, Virginia was able to borrow $45,000 from Bank Of Floyd. The SBA made the loan possible by guaranteeing $38,250 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: COSTUME JEWELRY AND NOVELTY MANUFACTURING SBA Loan Lender BANK OF FLOYD This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339914 - Costume Jewelry and Novelty Manufacturing Loan Approval Date 7/19/2004 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $38,250. 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 3 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. This SBA loan was for $45,000. How would you spend $45,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA Participating Banks in Floyd, Virginia
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