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May 19, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Hillsville, Business Loans > Branch Bank & Trust Hillsville Business Loans > General Automotive Repair Shops Loan | ||||
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Banks Doing SBA Loans in Virginia
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Hillsville, Virginia Lender Lends Money to General Automotive Repair Shops CompanyFind Hillsville, Virginia banks that specialize in small business loans and know how to work with entrepreneurs. Branch Bank & Trust is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Hillsville, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Branch Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender BRANCH BANK & TRUST This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/19/2001 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 4 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 Hillsville, Virginia
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