Blacksburg, Virginia Entrepreneur Gets an SBA Loan

Would a Virginia business loan help your company expand? If so, you may want to talk with this Virginia bank, which offers SBA loans to Virginia entrepreneurs.

You can learn something about getting a small business loan in Blacksburg, Virginia by studying this loan to a local business, made back in 2002. Banks like National Bank - Blacksburg may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
BLACKSBURG, VA 24060

SBA Loan Lender

NATIONAL BANK - BLACKSBURG
100 S MAIN ST
BLACKSBURG, VA 24060

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5944 - Jewelry Stores

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

7/10/2002

Loan Approval Gross Amount

$3,500

Loan Approval from the SBA

Of the total $3,500 loan amount, the SBA guaranteed $2,975.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National Bank - Blacksburg and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Getting an SBA Loan in Virginia