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May 2, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Mobile Food Services Loan | ||||
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Advice for Entrepreneurs On Getting a Loan
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Getting an SBA Loan for Mobile Food ServicesLooking for business loans for mobile food services? Talk to a banker who works with the SBA. This $15,000 mobile food services loan was issued by a Virginia bank. This business knew how to go about getting a business bank loan. Based in Washington, District of Columbia, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Suntrust Bank, based in Richmond, Virginia. SBA Loan Borrower COMPANY TYPE: MOBILE FOOD SERVICES SBA Loan Lender SUNTRUST BANK 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 722330 - Mobile Food Services Loan Approval Date 10/6/2005 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Suntrust Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - Getting Venture Capital Find an SBA Lender in Richmond, Virginia
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