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April 28, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Richmond, Business Loans > Branch Bank & Trust Richmond Business Loans > Variety Stores Loan | ||||
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SBA Lender Chester Virginia
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Getting an SBA Loan for General Merchandise StoresLooking for commercial loans for general merchandise stores? The SBA may be the answer. This $67,000 general merchandise stores loan was issued by a Virginia bank. This business knew how to go about getting a business bank loan. Based in Chester, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Branch Bank & Trust, based in Richmond, Virginia. SBA Loan Borrower COMPANY TYPE: VARIETY STORES SBA Loan Lender BRANCH BANK & TRUST This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5331 - Variety Stores NAICS Code 452990 - General Merchandise Stores Loan Approval Date 2/17/2000 Loan Approval Gross Amount $67,000 Loan Approval from the SBA Of the total $67,000 loan amount, the SBA guaranteed $53,600. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Branch Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Bank Loans in Richmond, Virginia
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