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April 20, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Walnut Creek, Business Loans > Superior Financial Group, LLC Walnut Creek Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Floyd, Virginia Bank for SBA Loans
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Financing for Plumbing, Heating, and Air-Conditioning ContractorsLooking for commercial loans for plumbing, heating, and air-conditioning contractors? Talk to a banker who works with the SBA. This $10,000 plumbing, heating, and air-conditioning contractors loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Floyd, Virginia was able to borrow $10,000 from Superior Financial Group, LLC. The SBA made the loan possible by guaranteeing $8,500 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender SUPERIOR FINANCIAL GROUP, LLC This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 1/28/2008 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. 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 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Banks in Walnut Creek, California
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