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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Charlottesville, Business Loans > Sonabank, National Association Charlottesville Business Loans > Full-Service Restaurants Loan | ||||
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How to Get SBA Money in Charlottesville, Virginia
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Sonabank, National Association Gives SBA Loan to Full-Service Restaurants CompanySBA loans in Virginia are tough to come by these days. We take a look at one Virginia SBA loan, provided by a Virginia bank, that was approved by the SBA. Getting a small business loan in Charlottesville, Virginia was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Sonabank, National Association. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SONABANK, NATIONAL ASSOCIATION 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 722110 - Full-Service Restaurants Loan Approval Date 4/12/2007 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 a new 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 2 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 $150,000 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. Related Links: Who Lends Money to Small Businesses in Charlottesville, Virginia
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