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May 7, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Limited-Service Restaurants Loan | ||||
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Virginia SBA 7A Lenders
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Richmond, Virginia Bank Gives SBA Loan to Limited-Service Restaurants CompanyThinking about meeting with a Richmond, Virginia bank about a small business loan? Here's one Georgia business loan, issued by a Richmond bank, that was approved by the SBA. Applying for an SBA loan with Suntrust Bank worked out well for our friends at one local firm in Hartwell, Georgia. They received an SBA loan for $45,000. Great job! SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender SUNTRUST BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 722211 - Limited-Service Restaurants Loan Approval Date 4/3/2007 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $22,500. 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Getting an SBA Loan For Your Business 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Role of Business Plan When Raising Money Who Lends Money to Small Businesses in Richmond, Virginia Getting an SBA Loan in Virginia
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