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April 28, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Norfolk, Business Loans > Bank Of The Commonwealth Norfolk Business Loans > Services To Buildings And Dwellings Loan | ||||
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Virginia Beach, Virginia Bank for SBA Loans
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Financing for Services to Buildings and DwellingsLooking for commercial loans for services to buildings and dwellings? The SBA may be the answer. This $50,000 services to buildings and dwellings loan was issued by a Virginia bank. This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bank Of The Commonwealth, out of Norfolk, Virginia. The loan was granted and they received $50,000 to help grow their Virginia Beach, Virginia business. SBA Loan Borrower COMPANY TYPE: SERVICES TO BUILDINGS AND DWELLINGS SBA Loan Lender BANK OF THE COMMONWEALTH This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 561790 - Services to Buildings and Dwellings Loan Approval Date 10/12/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 5 employees. The loan application indicated that the loan would help generate 11 new jobs and retain 11 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, fight for what you want, and it will be yours! 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: Microlending as a Small Business Funding Source Best Banks in Norfolk, Virginia
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