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May 14, 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 > Sheet Metal Work Manufacturing Loan | ||||
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Small Business Loans from Resource Bank
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Business Loan from Resource Bank Given to Sheet Metal Work Manufacturing CompanyAn SBA loan from Resource Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Virginia Beach, Virginia business owner got a $50,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Resource Bank, out of Virginia Beach, Virginia. The loan was granted and they received $50,000 to help grow their Virginia Beach, Virginia business. SBA Loan Borrower COMPANY TYPE: SHEET METAL WORK MANUFACTURING SBA Loan Lender RESOURCE BANK 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 332322 - Sheet Metal Work Manufacturing Loan Approval Date 1/30/2007 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business 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. 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 Resource Bank 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: Best Banks in Virginia Beach, Virginia
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