Old Point National Bank - Phoebus Provides SBA Loan to Buy Signs By Tomorrow Franchise

Need money to buy a Signs By Tomorrow franchise? Old Point National Bank - Phoebus has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Signs By Tomorrow franchise shouldn't be too tough. In 2004, Old Point National Bank - Phoebus issued an SBA franchise loan to an entrepreneur in Chesapeake, Virginia. Because Signs By Tomorrow was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

SIGNS BY TOMORROW WITH FORRLAC
CHESAPEAKE, VA 23320

SBA Loan Lender

OLD POINT NATIONAL BANK - PHOEBUS
1 W MELLEN ST
HAMPTON, VA 23663

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.

NAICS Code

513120 - Television Broadcasting

Loan Approval Date

12/1/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Signs By Tomorrow franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Signs By Tomorrow

Obtaining Funding - Getting Venture Capital

Small Business Banks in Hampton, Virginia

SBA Lenders in Virginia