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May 3, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mclean, Business Loans > Cardinal Bank Mclean Business Loans > Food Products Machinery Loan | ||||
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Raising Money in Sterling, Virginia With SBA Loans
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Loans for Commercial and Service Industry Machinery ManufacturingWith these loans for commercial and service industry machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This commercial and service industry machinery manufacturing loan for $1,000,000 was given to a Virginia entrepreneur in 2004. Getting a small business loan in Sterling, Virginia was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Cardinal Bank, operating out of Mclean, Virginia. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: FOOD PRODUCTS MACHINERY SBA Loan Lender CARDINAL BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3556 - Food Products Machinery NAICS Code 333319 - Commercial and Service Industry Machinery Manufacturing Loan Approval Date 10/25/2004 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. 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 48 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Remember, 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Accountant's Role in Securing Financing Find an SBA Lender in Mclean, Virginia
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