Virginia Entrepreneur Secures Financing to Buy Hometown Threads Franchise

Need money to purchase a Hometown Threads franchise? Millennium Bank has a history of making these loans and they are guaranteed by the SBA.

Hometown Threads franchise loans are available to Fredericksburg, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Millennium Bank, based in Warrenton, Virginia, issued an SBA franchise loan for a Hometown Threads franchise in 2004. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

HOMETOWN THREADS
FREDERICKSBURG, VA 22401

SBA Loan Lender

MILLENNIUM BANK
11 MAIN ST
WARRENTON, VA 20186

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5131 - Piece Goods, Notions, and Other Dry Goods

NAICS Code

424310 - Piece Goods, Notions, and Dry Goods Merchant Wholesalers

Loan Approval Date

12/7/2004

Loan Approval Gross Amount

$148,500

Loan Approval from the SBA

Of the total $148,500 loan amount, the SBA guaranteed $126,225.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hometown Threads franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We've showcased information on this loan to let you know that businesses like yours 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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Virginia SBA 7A Lenders