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May 12, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mount Airy, Business Loans > Surrey Bank & Trust Mount Airy Business Loans > Flooring Contractors Loan | ||||
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Virginia Small Business Funding
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Flooring Contractors Business LoansLooking for business loans for flooring contractors? Try the SBA. This $242,200 flooring contractors loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Galax, Virginia was able to borrow $242,200 from Surrey Bank & Trust. The SBA made the loan possible by guaranteeing $181,650 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: FLOORING CONTRACTORS SBA Loan Lender SURREY BANK & TRUST 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 238330 - Flooring Contractors Loan Approval Date 12/18/2006 Loan Approval Gross Amount $242,200 Loan Approval from the SBA Of the total $242,200 loan amount, the SBA guaranteed $181,650. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 12 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find other ways to get money to start a business, 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: SBA Approved Banks in Mount Airy, North Carolina
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