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April 27, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Vending Machine Operators Loan | ||||
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Banks Doing SBA Loans in Virginia
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Richmond, Virginia Lender Lends Money to Vending Machine Operators CompanyGet SBA loans from a Richmond, Virginia bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Suntrust Bank is a Richmond, Virginia small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Tennessee company. SBA Loan Borrower COMPANY TYPE: VENDING MACHINE OPERATORS SBA Loan Lender SUNTRUST BANK The lender provided this debt financing 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 454210 - Vending Machine Operators Loan Approval Date 5/2/2005 Loan Approval Gross Amount $73,000 Loan Approval from the SBA Of the total $73,000 loan amount, the SBA guaranteed $36,500. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Suntrust Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 Small Business Banks in Richmond, Virginia
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