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December 26, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Charlottesville, Business Loans > Union Bank And Trust Company Charlottesville Business Loans > Musical Instrument Stores Loan | ||||
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SBA Lenders for Businesses in Virginia
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Charlottesville, Virginia Entrepreneur Gets an SBA LoanWant a Virginia SBA loan? This Virginia entrepreneur got an SBA loan, provided by a Virginia bank that works with the SBA to help small business owners. By giving the right information to Union Bank And Trust Company, this Charlottesville, Virginia business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENT STORES SBA Loan Lender UNION BANK AND TRUST COMPANY 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 5736 - Musical Instrument Stores NAICS Code 451140 - Musical Instrument and Supplies Stores Loan Approval Date 8/15/2002 Loan Approval Gross Amount $88,000 Loan Approval from the SBA Of the total $88,000 loan amount, the SBA guaranteed $74,800. 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 2 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Union Bank And Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: SBA Banks in Charlottesville, Virginia
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