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May 11, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Personal Care Services Loan | ||||
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Branch Bank & Trust
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Woodbridge, Virginia Business Gets SBA-Guaranteed Funding from Branch Bank & TrustAn SBA loan from Branch Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Woodbridge, Virginia business owner got a $185,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Woodbridge, Virginia was able to borrow $185,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $92,500 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL CARE SERVICES SBA Loan Lender BRANCH BANK & TRUST 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 812199 - Personal Care Services Loan Approval Date 10/23/2007 Loan Approval Gross Amount $185,000 Loan Approval from the SBA Of the total $185,000 loan amount, the SBA guaranteed $92,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Branch Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Realistic Debt Financing Options SBA Banks in Winston Salem, North Carolina
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