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May 16, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > West Point, Business Loans > Citizens & Farmers Bank West Point Business Loans > Sporting Goods Stores Loan | ||||
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Raising Money in Midlothian, Virginia With SBA Loans
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Financing for Sporting Goods StoresLooking for loans for sporting goods stores? Talk to a banker who works with the SBA. This $30,000 sporting goods stores loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Midlothian, Virginia was able to borrow $30,000 from Citizens & Farmers Bank. The SBA made the loan possible by guaranteeing $15,000 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender CITIZENS & FARMERS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 451110 - Sporting Goods Stores Loan Approval Date 9/23/2003 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. 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 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 10 existing jobs. Getting an SBA Loan For Your Business If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Banks for West Point, Virginia Loans
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