Virginia Small Business Loan Issued to Retail Bakeries Company

Would a Virginia bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Virginia bank, which offers SBA loans to Virginia entrepreneurs.

By giving the right information to Millennium Bank, this Burke, Virginia business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
BURKE, VA 22015

SBA Loan Lender

MILLENNIUM BANK
1601 WASHINGTON PLZ
RESTON, VA 20190

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

10/5/2006

Loan Approval Gross Amount

$321,300

Loan Approval from the SBA

Of the total $321,300 loan amount, the SBA guaranteed $240,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 20 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $321,300. How would you spend $321,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Find Start-Up Capital

SBA Approved Banks in Reston, Virginia

SBA Lenders in Virginia