SBA Loan from Resource Bank Helps Scientific And Technical Consulting Services Company

An SBA loan from Resource Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chesapeake, Virginia business owner got a $275,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chesapeake, Virginia was able to borrow $275,000 from Resource Bank. The SBA made the loan possible by guaranteeing $137,500 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES
CHESAPEAKE, VA 23320

SBA Loan Lender

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

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541690 - Scientific and Technical Consulting Services

Loan Approval Date

6/15/2004

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $137,500.

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 8 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your 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.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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