Local Business Gets a Virginia SBA Loan

Searching for a Virginia business loan? This Virginia entrepreneur got a business loan, provided by a North Carolina bank that works with the SBA to help small business owners.

Getting a small business loan in Clifton, Virginia was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Bank. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
CLIFTON, VA 20124

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

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

SIC Code

7389 - Business Services

Loan Approval Date

8/16/2000

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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