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May 13, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Midlothian, Business Loans > Citizens & Farmers Bank Midlothian Business Loans > Sporting And Recreational Goods And Supplies Loan | ||||
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Midlothian, Virginia Bank for SBA Loans
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Midlothian, Virginia Bank Lends Money to Sporting And Recreational Goods And Supplies Company in Midlothian, VirginiaA Midlothian, Virginia SBA loan can be yours. Learn how a business got a $250,000 business loan from this Virginia bank. This loan to an entrepreneur is a good example of an SBA loan. Citizens & Farmers Bank made the loan and the SBA guaranteed a portion of the loan. Many other Virginia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES SBA Loan Lender CITIZENS & FARMERS BANK This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5091 - Sporting and Recreational Goods and Supplies NAICS Code 421910 - Sporting and Recreational Goods and Supplies Wholesalers Loan Approval Date 10/2/2002 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens & Farmers Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 in Midlothian, Virginia
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