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May 3, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mclean, Business Loans > Cardinal Bank Mclean Business Loans > Employee Leasing Services Loan | ||||
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Fairfax Station (rr Name Fairf, Virginia Bank for SBA Loans
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Fairfax Station (rr Name Fairf, Virginia Entrepreneur Gets a Small Business LoanSearching for a Virginia bank loan? This Virginia entrepreneur got a bank loan, provided by a Virginia bank that works with the SBA to help small business owners. This business, based in Fairfax Station (rr Name Fairf, 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 Cardinal Bank. We've got the inside scoop on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: EMPLOYEE LEASING SERVICES SBA Loan Lender CARDINAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561330 - Employee Leasing Services Loan Approval Date 5/24/2004 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 18 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in Mclean, Virginia Where to Get an SBA Loan Virginia
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