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April 28, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Richmond, Business Loans > Branch Bank & Trust Richmond Business Loans > Reupholstery And Furniture Repair Loan | ||||
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Banks Doing SBA Loans in Virginia
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Richmond, Virginia Bank Lends Money to Reupholstery And Furniture Repair Company in Richmond, VirginiaWant to talk with a Richmond, Virginia bank about a small business loan? Here's one Virginia business loan, issued by a Richmond bank, that was approved by the SBA. Applying for an SBA loan with Branch Bank & Trust worked out well for our friends at one local company in Richmond, Virginia. They received an SBA loan for $100,000. Awesome! SBA Loan Borrower COMPANY TYPE: REUPHOLSTERY AND FURNITURE REPAIR SBA Loan Lender BRANCH BANK & TRUST This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7641 - Reupholstery and Furniture Repair NAICS Code 811420 - Reupholstery and Furniture Repair Loan Approval Date 2/21/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 8 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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: Best Banks in Richmond, Virginia
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