Loan Guaranty Program Borrower's Application - Virginia

Loan Guaranty Program Borrower's Application - Virginia

Loan Guaranty Program Borrower's Application is a legal document that was released by the Virginia Department of Small Business and Supplier Diversity - a government authority operating within Virginia.

FAQ

Q: What is the Loan Guaranty Program?
A: The Loan Guaranty Program is a program that provides loan guarantees to small businesses in Virginia.

Q: Who is eligible to apply for the Loan Guaranty Program?
A: Small businesses located in Virginia are eligible to apply for the Loan Guaranty Program.

Q: What is the purpose of the Loan Guaranty Program?
A: The purpose of the Loan Guaranty Program is to help small businesses obtain funding by providing loan guarantees.

Q: How can I apply for the Loan Guaranty Program?
A: You can apply for the Loan Guaranty Program by submitting a Borrower's Application to the appropriate office in Virginia.

Q: What documents are required for the Loan Guaranty Program application?
A: The application requires you to submit financial statements, business plans, and other relevant documents.

Q: What is the maximum loan amount available through the Loan Guaranty Program?
A: The maximum loan amount available through the Loan Guaranty Program is $350,000.

Q: What is the interest rate for loans obtained through the Loan Guaranty Program?
A: The interest rate for loans obtained through the Loan Guaranty Program varies and is determined by the lender.

Q: What is the repayment term for loans obtained through the Loan Guaranty Program?
A: The repayment term for loans obtained through the Loan Guaranty Program is typically determined by the lender.

Q: Can the Loan Guaranty Program guarantee 100% of a loan?
A: No, the Loan Guaranty Program does not guarantee 100% of a loan. The guarantee amount is usually a percentage of the loan.

Q: Is there a fee for participating in the Loan Guaranty Program?
A: Yes, there is a fee for participating in the Loan Guaranty Program. The fee is usually a percentage of the loan amount.

Q: How long does it take to process a Loan Guaranty Program application?
A: The processing time for a Loan Guaranty Program application can vary, but it usually takes several weeks.

Q: Can the Loan Guaranty Program be used to refinance existing loans?
A: Yes, the Loan Guaranty Program can be used to refinance existing loans, subject to certain conditions.

Q: Are personal guarantees required for loans obtained through the Loan Guaranty Program?
A: Yes, personal guarantees are generally required for loans obtained through the Loan Guaranty Program.

Q: Can the Loan Guaranty Program be used for working capital?
A: Yes, the Loan Guaranty Program can be used for working capital, as well as for other eligible business expenses.

Q: Is collateral required for loans obtained through the Loan Guaranty Program?
A: Collateral requirements for loans obtained through the Loan Guaranty Program vary and are determined by the lender.

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Form Details:

  • Released on March 8, 2019;
  • The latest edition currently provided by the Virginia Department of Small Business and Supplier Diversity;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of the form by clicking the link below or browse more documents and templates provided by the Virginia Department of Small Business and Supplier Diversity.

Download Loan Guaranty Program Borrower's Application - Virginia

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