Growing Company Gets a Virginia Bank Loan

Would a Virginia bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Virginia bank, which offers SBA loans to Virginia entrepreneurs.

Getting a small business loan in Richmond, Virginia was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Provident Bank Of Maryland. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
RICHMOND, VA 23233

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

453310 - Used Merchandise Stores

Loan Approval Date

10/25/2005

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $60,000.

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 only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Richmond VA, you ought to talk with a local Richmond SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Richmond businesses.

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:

Microlending as a Small Business Funding Source

Find an SBA Lender in Warrenton, Virginia

Virginia SBA Banks