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May 14, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Siding Contractors Loan | ||||
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Richmond SBA Lenders
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Entrepreneur Works With Richmond, Virginia Bank to Get an SBA LoanGet to know Richmond, Virginia banks that specialize in business loans and know how to work with entrepreneurs. Suntrust Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Clermont, Florida starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Suntrust Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SIDING CONTRACTORS SBA Loan Lender SUNTRUST BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 238170 - Siding Contractors Loan Approval Date 5/13/2005 Loan Approval Gross Amount $9,500 Loan Approval from the SBA Of the total $9,500 loan amount, the SBA guaranteed $4,750. 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 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Suntrust Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Who Lends Money to Small Businesses in Richmond, Virginia
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