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April 29, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Full-Service Restaurants Loan | ||||
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Banks Doing SBA Loans in Virginia
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Richmond, Virginia Bank Gives SBA Loan to Full-Service Restaurants CompanyWant to talk with a Richmond, Virginia bank about an SBA loan? Here's one Virginia business loan, issued by a Richmond bank, that was approved by the SBA. Applying for an SBA loan with Suntrust Bank worked out well for our friends at one local company in Virginia Beach, Virginia. They received an SBA loan for $200,000. Great job! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SUNTRUST BANK 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 722110 - Full-Service Restaurants Loan Approval Date 3/9/2005 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. 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 loan application indicated that the loan would help generate 24 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $200,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Who Lends Money to Small Businesses in Richmond, Virginia Getting an SBA Loan in Virginia
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