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April 28, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Norfolk, Business Loans > Heritage Bank Norfolk Business Loans > Shipbuilding And Ship Repairing Loan | ||||
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Norfolk, Virginia Bank for SBA Loans
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Norfolk, Virginia Bank Gives SBA Loan to Shipbuilding And Ship Repairing CompanyWant to talk with a Norfolk, Virginia bank about an SBA loan? Here's one Virginia business loan, issued by a Norfolk bank, that was approved by the SBA. Applying for an SBA loan with Heritage Bank worked out well for our friends at one local company in Norfolk, Virginia. The business was able to get an SBA loan for $500,000. Way to go! SBA Loan Borrower COMPANY TYPE: SHIPBUILDING AND SHIP REPAIRING SBA Loan Lender HERITAGE BANK This 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 3731 - Shipbuilding and Ship Repairing NAICS Code 336611 - Ship Building and Repairing Loan Approval Date 6/12/2003 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 24 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need business start up money in Norfolk VA, you ought to talk with a local Norfolk SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Norfolk businesses. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Heritage Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Best Norfolk, Virginia Banks for Small Business
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