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May 8, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Resource Bank Virginia Beach Business Loans > Specialty Trade Contractors Loan | ||||
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Best Banks That Lend to Norfolk Small Business Owners
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Company Gets a Virginia Small Business LoanSBA loans in Virginia are tough to come by these days. We take a look at one Virginia SBA loan, provided by a Virginia bank, that was approved by the SBA. Getting a small business loan in Norfolk, Virginia was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Resource Bank. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALTY TRADE CONTRACTORS SBA Loan Lender RESOURCE BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238990 - Specialty Trade Contractors Loan Approval Date 10/17/2003 Loan Approval Gross Amount $233,000 Loan Approval from the SBA Of the total $233,000 loan amount, the SBA guaranteed $174,750. 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 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: How Much Venture Capital Is There? Where to Get an SBA Loan in Virginia Beach, Virginia
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