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| Entrepreneur Resources | Suntrust Bank Richmond Business Loans | ||||
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How to Get SBA Loans in Newport News, Virginia
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Beauty Salons Bank LoansLooking for bank loans for beauty salons? Talk to a banker who works with the SBA. This $145,000 beauty salons loan was issued by a Virginia bank.
Getting a small business loan in Newport News, Virginia was important for Kidd One, LLC back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Richmond, Virginia. Here are the details on this Virginia small business loan. SBA Loan Borrower Kidd One, LLC SBA Loan Lender SUNTRUST BANK This lender processed this bank 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 812112 - Beauty Salons Loan Approval Date 8/28/2007 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $72,500. More Information on This SBA Loan The borrower, Kidd One, LLC, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Kidd One, LLC 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 Kidd One, LLC 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: SBA Approved Banks 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.
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