Video Tape and Disc Rental Small Business Loans

Looking for small business loans for video tape and disc rental? An SBA loan may be just what you've been looking for. This $58,500 video tape and disc rental loan was issued by a North Carolina bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Wachovia Bank, out of Winston Salem, North Carolina. The loan was granted and they received $58,500 to help grow their Amherst, Virginia business.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE AND DISC RENTAL
AMHERST, VA 24521

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

532230 - Video Tape and Disc Rental

Loan Approval Date

1/8/2002

Loan Approval Gross Amount

$58,500

Loan Approval from the SBA

Of the total $58,500 loan amount, the SBA guaranteed $29,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for 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.

Next Steps for Getting an SBA Loan

If you are raising money in Amherst VA, you ought to talk with a local Amherst SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Amherst businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Determining Proper Capital Structure for a Business

Good Banks for Small Business in Winston Salem, North Carolina

SBA Lenders in North Carolina