United Bank Gives Small Business Loan to Macaroni, Spaghetti, Vermicelli, And Noodles 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.

You can learn something about getting a small business loan in Charlottesville, Virginia by studying this loan to a local company, made back in 2001. Banks like United Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MACARONI, SPAGHETTI, VERMICELLI, AND NOODLES
CHARLOTTESVILLE, VA 22902

SBA Loan Lender

UNITED BANK
1265 SEMINOLE TRL
CHARLOTTESVILLE, VA 22901

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

2098 - Macaroni, Spaghetti, Vermicelli, and Noodles

NAICS Code

311823 - Dry Pasta Manufacturing

Loan Approval Date

8/10/2001

Loan Approval Gross Amount

$145,500

Loan Approval from the SBA

Of the total $145,500 loan amount, the SBA guaranteed $123,675.

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

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Charlottesville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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