Paint and Wallpaper Stores Commercial Loans

Looking for commercial loans for paint and wallpaper stores? Talk to a banker who works with the SBA. This $100,000 paint and wallpaper stores loan was issued by a Virginia bank.

Rgm Group, Inc. knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Suntrust Bank, based in Richmond, Virginia.

SBA Loan Borrower

RGM Group, Inc.
1830 SW 2nd Court
Miami, FL 33129

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

444120 - Paint and Wallpaper Stores

Loan Approval Date

10/6/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower, Rgm Group, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Rgm Group, Inc. needed a loan. Suntrust Bank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Suntrust Bank made the loan. The end result was that Rgm Group, Inc. was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Advice on Getting a Small Business Loan

Small Bank Loans in Richmond, Virginia

Where to Get an SBA Loan 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.