Entrepreneur Works With Charlottesville, Virginia Bank to Get an SBA Loan

Want to talk with a Charlottesville, Virginia bank about an SBA loan? Here's one Virginia business loan, issued by a Charlottesville bank, that was approved by the SBA.

Applying for an SBA loan with United Bank worked out well for our friends at one local company in Fork Union, Virginia. The business was able to get an SBA loan for $23,175. Sweet!

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
FORK UNION, VA 23055

SBA Loan Lender

UNITED BANK
1265 SEMINOLE TRL
CHARLOTTESVILLE, VA 22901

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/24/2000

Loan Approval Gross Amount

$23,175

Loan Approval from the SBA

Of the total $23,175 loan amount, the SBA guaranteed $18,540.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like United Bank and they will explain how you can get an SBA loan for your company.

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:

Angel Investors

Best Banks for Small Business in Charlottesville, Virginia

SBA Participating Banks in Virginia