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May 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Ashland, Business Loans > Union Bank And Trust Company Ashland Business Loans > Electrical Work Loan | ||||
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Get a Small Business Loan from Union Bank And Trust Company
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Midlothian, Virginia Business Gets SBA-Guaranteed Funding from Union Bank And Trust CompanyAn SBA loan from Union Bank And Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Midlothian, Virginia business owner got a $50,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Midlothian, Virginia was able to borrow $50,000 from Union Bank And Trust Company. The SBA made the loan possible by guaranteeing $42,500 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL WORK SBA Loan Lender UNION BANK AND TRUST COMPANY This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1731 - Electrical Work NAICS Code 238210 - Electrical Contractors and Wiring Installation Contractors Loan Approval Date 12/30/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start business in Midlothian VA, you ought to talk with a local Midlothian SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Midlothian businesses. This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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:
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