Communication Equipment Repair and Maintenance Commercial Loans

With these commercial loans for communication equipment repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This communication equipment repair and maintenance loan for $35,000 was given to a Virginia entrepreneur in 2002.

Getting a small business loan in Chesapeake, Virginia was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Resource Bank, operating out of Virginia Beach, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMUNICATION EQUIPMENT REPAIR AND MAINTENANCE
CHESAPEAKE, VA 23320

SBA Loan Lender

RESOURCE BANK
4429 BONNEY RD, STE 300
VIRGINIA BEACH, VA 23462

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811213 - Communication Equipment Repair and Maintenance

Loan Approval Date

5/3/2002

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the borrowed money would help generate 10 new jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Chesapeake VA, you ought to talk with a local Chesapeake SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chesapeake businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Resource Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Startup Funding Tip

Small Bank Loans in Virginia Beach, Virginia

SBA Virginia Banks