1st Bank & Trust SBA Loan to Hotels And Motels Company

Searching for a Virginia small business loan? Here's one Virginia business loan that was approved by the SBA.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with 1st Bank & Trust, out of Bristol, Virginia. The loan was granted and they received $441,800 to help grow their Abingdon, Virginia business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ABINGDON, VA 24210

SBA Loan Lender

1ST BANK & TRUST
38 E VALLEY DR
BRISTOL, VA 24203

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

2/22/2000

Loan Approval Gross Amount

$441,800

Loan Approval from the SBA

Of the total $441,800 loan amount, the SBA guaranteed $331,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Direct Public Offerings

SBA Participating Banks in Bristol, Virginia

Where to Get an SBA Loan Virginia