Specialty Food Stores Bank Loans

With these bank loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $150,000 was given to a Virginia entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arlington, Virginia was able to borrow $150,000 from Nara Bank. The SBA made the loan possible by guaranteeing $127,500 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
ARLINGTON, VA 22203

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

9/8/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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