Reston, Virginia Bank Gives SBA Loan to Electrical Contractors And Wiring Installation Contractors Company
Get business loans from a Reston, 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.
Millennium Bank is a Reston, Virginia small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Virginia company.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
SPRINGFIELD, VA 22150
SBA Loan Lender
MILLENNIUM BANK
1601 WASHINGTON PLZ
RESTON, VA 20190
This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
238210 - Electrical Contractors and Wiring Installation Contractors
Loan Approval Date
4/9/2004
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 25 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
If you are wondering how to raise money for a business in Springfield VA, you ought to talk with a local Springfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Springfield businesses.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Millennium Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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.
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