Business Loan from Millennium Bank Given to Drinking Places Company

Millennium Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Virginia entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Falls Church, Virginia was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Millennium Bank, operating out of Reston, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
FALLS CHURCH, VA 22041

SBA Loan Lender

MILLENNIUM BANK
1601 WASHINGTON PLZ
RESTON, VA 20190

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

10/5/2006

Loan Approval Gross Amount

$1,010,000

Loan Approval from the SBA

Of the total $1,010,000 loan amount, the SBA guaranteed $757,500.

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 4 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? 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.

Related Links:

Getting a Small Business Loan

Where to Get an SBA Loan in Reston, Virginia

SBA Virginia Lenders