Chantilly, Virginia Entrepreneur Gets a Business Loan

Bank loans in Virginia are hard to find these days. We take a look at one Virginia bank loan, provided by a Virginia bank, that was approved by the SBA.

Getting a small business loan in Chantilly, Virginia was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Pnc Bank, National Association. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
CHANTILLY, VA 20151

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
107 FREE CT
STERLING, VA 20164

At the time this loan was granted, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

3/19/2002

Loan Approval Gross Amount

$347,000

Loan Approval from the SBA

Of the total $347,000 loan amount, the SBA guaranteed $260,250.

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 13 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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