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May 3, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Portsmouth, Business Loans > Branch Bank & Trust Portsmouth Business Loans > Auto And Home Supply Stores Loan | ||||
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Virginia Bank SBA Loans
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Entrepreneur Works With Portsmouth, Virginia Bank to Get an SBA LoanThinking about meeting with a Portsmouth, Virginia bank about an SBA loan? Here's one Virginia business loan, issued by a Portsmouth bank, that was approved by the SBA. Applying for an SBA loan with Branch Bank & Trust worked out well for our friends at one local company in Norfolk, Virginia. The business was able to get an SBA loan for $110,100. Awesome! SBA Loan Borrower COMPANY TYPE: AUTO AND HOME SUPPLY STORES SBA Loan Lender BRANCH BANK & TRUST This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 6/26/2001 Loan Approval Gross Amount $110,100 Loan Approval from the SBA Of the total $110,100 loan amount, the SBA guaranteed $93,585. 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 3 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 Participating Banks in Portsmouth, Virginia
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