Chantilly, VA Entrepreneur Gets SBA Loan to Buy Closets By Design Franchise

Need money to invest in a Closets By Design franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Chantilly, Virginia and are interested in buying a Closets By Design franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Branch Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CLOSETS BY DESIGN
CHANTILLY, VA 20121

SBA Loan Lender

BRANCH BANK & TRUST
4117 CHAIN BRIDGE RD
FAIRFAX, VA 22030

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

4212 - Local Trucking Without Storage

NAICS Code

484210 - Used Household and Office Goods Moving

Loan Approval Date

4/3/2001

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 an existing business. This loan was used to buy a Closets By Design franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Chantilly VA, you ought to talk with a local Chantilly SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chantilly businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Branch Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Closets By Design

Raising VC Money for Social Networking Companies

SBA 7A Lenders in Fairfax, Virginia

SBA Participating Banks in Virginia