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May 17, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Painting And Wall Covering Contractors Loan | ||||
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Who Lends Money to Springfield Entrepreneurs
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Local Business Gets a Virginia Bank LoanSearching for a Virginia business loan? This Virginia entrepreneur got a business loan, provided by a North Carolina bank that works with the SBA to help small business owners. Getting a small business loan in Springfield, Virginia was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS SBA Loan Lender BANK OF AMERICA The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 238320 - Painting and Wall Covering Contractors Loan Approval Date 9/20/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help retain 12 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of America and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding From a Venture Capitalist SBA Participating Banks in Charlotte, North Carolina
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