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April 28, 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 > Management Consulting Services Loan | ||||
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Raising Money in Richmond, Virginia With SBA Loans
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Financing for Management Consulting ServicesLooking for commercial loans for management consulting services? Try the SBA. This $250,000 management consulting services loan was issued by a Virginia bank. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Resource Bank, out of Virginia Beach, Virginia. The loan was granted and they received $250,000 to help grow their Richmond, Virginia business. SBA Loan Borrower COMPANY TYPE: MANAGEMENT CONSULTING SERVICES SBA Loan Lender RESOURCE 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 541618 - Management Consulting Services Loan Approval Date 5/13/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 11 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 Resource 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: Banks in Virginia Beach, Virginia Find an SBA Lender in Virginia
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