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May 14, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Midlothian, Business Loans > Citizens & Farmers Bank Midlothian Business Loans > Copper Foundries Loan | ||||
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Raising Money in Waynesboro, Virginia With SBA Loans
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Raising Money for Copper FoundriesLooking for business loans for copper foundries? Talk to a banker who works with the SBA. This $700,000 copper foundries loan was issued by a Virginia bank. Getting a small business loan in Waynesboro, Virginia was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citizens & Farmers Bank, operating out of Midlothian, Virginia. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: COPPER FOUNDRIES SBA Loan Lender CITIZENS & FARMERS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3366 - Copper Foundries NAICS Code 331525 - Copper Foundries Loan Approval Date 8/6/2003 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 85 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA 7A Banks for Midlothian, Virginia Loans
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