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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Warrenton, Business Loans > Provident Bank Of Maryland Warrenton Business Loans > Eating Places Loan | ||||
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Virginia Bank SBA Loans
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Provident Bank Of Maryland SBA Loan to Eating Places CompanyLooking to get a Virginia SBA loan? Here's one Virginia business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fredericksburg, Virginia was able to borrow $120,000 from Provident Bank Of Maryland. The SBA made the loan possible by guaranteeing $90,000 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PROVIDENT BANK OF MARYLAND Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 5/26/2000 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $90,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. This SBA loan request indicated that the borrowed money would help create 15 new jobs. Start the Process for Getting an SBA Loan Today! 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. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Provident Bank Of Maryland so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA 7A Lenders in Warrenton, Virginia
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