Newport News, Virginia Business Gets SBA-Guaranteed Funding from Suntrust Bank

An SBA loan from Suntrust Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Newport News, Virginia business owner got a $25,000 loan.

Getting a small business loan in Newport News, Virginia was an essential business goal for The Village Doctor Pc back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Atlanta, Georgia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

THE VILLAGE DOCTOR PC
10222 WARWICK BLVD
NEWPORT NEWS, VA 23601

SBA Loan Lender

SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303

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

621111 - Offices of Physicians (except Mental Health Specialists)

Loan Approval Date

2/24/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower, The Village Doctor Pc, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. This loan was paid in full, and was closed out on 1/29/2007.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as The Village Doctor Pc walked into Suntrust Bank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money!

About This SBA Loan Information:

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

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