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| Entrepreneur Resources | Townebank Newport News Business Loans | ||||
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Banks in Newport News, Virginia That Make SBA Loans
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Newport News, Virginia Bank Lends Money to Abbott General Construction In in Hampton, VirginiaFind Newport News, Virginia banks that specialize in SBA loans and know how to work with entrepreneurs. Townebank is one such bank, as evidenced by this SBA loan to Abbott General Construction In.
Finding a small business loan in Hampton, Virginia starts with an understanding of who else has gotten loans in the area. In this case, Abbott General Construction In received funding from Townebank Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower ABBOTT GENERAL CONSTRUCTION IN SBA Loan Lender TOWNEBANK 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 233320 - Commercial and Institutional Building Construction Loan Approval Date 3/5/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower, Abbott General Construction In, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 30 existing jobs. This loan was paid in full, and was closed out on 5/2/2005. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan to Abbott General Construction In shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in Newport News, Virginia If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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