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May 13, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Full-Service Restaurants Loan | ||||
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Virginia Bank SBA Loans
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Suntrust Bank SBA Loan to Full-Service Restaurants CompanySuntrust Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Carolina entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Eden, North Carolina was an essential business goal for this company back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Richmond, Virginia. Here are the details on this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SUNTRUST BANK This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 722110 - Full-Service Restaurants Loan Approval Date 2/6/2008 Loan Approval Gross Amount $179,000 Loan Approval from the SBA Of the total $179,000 loan amount, the SBA guaranteed $89,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 15 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Best Banks in Richmond, Virginia
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