Charlottesville, Virginia Entrepreneur Gets an SBA Loan

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

Getting a small business loan in Charlottesville, Virginia was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Provident Bank Of Maryland. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CHARLOTTESVILLE, VA 22901

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
300 E MARKET ST
CHARLOTTESVILLE, VA 22902

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/14/2003

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $120,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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