Suntrust Bank Gives Bank Loan to Auto And Home Supply Stores Company
Bank loans in Virginia are hard to find these days. We take a look at one Virginia bank loan, provided by a Virginia bank, that was approved by the SBA.
Getting a small business loan in Virginia Beach, Virginia was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank. Here are the details on this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTO AND HOME SUPPLY STORES
VIRGINIA BEACH, VA 23456
SBA Loan Lender
150 W MAIN ST
NORFOLK, VA 23510
This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
5531 - Auto and Home Supply Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $205,000 loan amount, the SBA guaranteed $153,750.
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 15 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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.
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