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May 2, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Richmond, Business Loans > Peoples Bank Of Virginia Richmond Business Loans > Discount Department Stores Loan | ||||
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Virginia Small Business SBA Loans
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Chesterfield, Virginia Entrepreneur Gets a Business LoanVirginiaBank loans are available to Virginia firms through the SBA. In this case, a Virginia bank provides the loan. This small business, based in Chesterfield, Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Peoples Bank Of Virginia. We've got the inside scoop on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: DISCOUNT DEPARTMENT STORES SBA Loan Lender PEOPLES BANK OF VIRGINIA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 452112 - Discount Department Stores Loan Approval Date 11/14/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 2 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 10 new jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Best Richmond, Virginia Banks for Small Business Browse All Business Loan Sources for Virginia
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