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May 15, 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 > Specialty Trade Contractors Loan | ||||
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How to Get SBA Loans in Virginia Beach, Virginia
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Small Business Loans for Specialty Trade ContractorsLooking for small business loans for specialty trade contractors? Talk to a banker who works with the SBA. This $250,000 specialty trade contractors loan was issued by a Virginia bank. This small firm 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 Virginia Beach, Virginia business. SBA Loan Borrower COMPANY TYPE: SPECIALTY TRADE CONTRACTORS 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 238990 - Specialty Trade Contractors Loan Approval Date 9/12/2003 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. This loan was not for a franchise. At the time of the loan, the company had 28 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 28 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. This SBA loan was for $250,000. How would you spend $250,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Small Bank Loans in Virginia Beach, Virginia
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