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May 9, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Food Service Contractors Loan | ||||
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Raising Money in Lynchburg, Virginia With SBA Loans
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SBA Loans for Food Service ContractorsLooking for SBA loans for food service contractors? An SBA loan may be just what you've been looking for. This $230,000 food service contractors loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lynchburg, Virginia was able to borrow $230,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $115,000 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: FOOD SERVICE CONTRACTORS SBA Loan Lender BRANCH BANK & TRUST This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 722310 - Food Service Contractors Loan Approval Date 2/19/2008 Loan Approval Gross Amount $230,000 Loan Approval from the SBA Of the total $230,000 loan amount, the SBA guaranteed $115,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 no employees. The loan application indicated that the loan would help generate 5 new jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Branch Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Where to Get an SBA Loan in Winston Salem, North Carolina
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