Company Gets a Virginia SBA Loan

SBA loans in Virginia are are few and far betweeen these days. We take a look at one Virginia SBA loan, provided by a North Carolina bank, that was approved by the SBA.

You can learn something about getting a small business loan in Gloucester, Virginia by studying this loan to a local business, made back in 2007. Banks like Wachovia Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
Gloucester, VA 23061

SBA Loan Lender

WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

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

NAICS Code

541940 - Veterinary Services

Loan Approval Date

6/4/2007

Loan Approval Gross Amount

$134,400

Loan Approval from the SBA

Of the total $134,400 loan amount, the SBA guaranteed $67,200.

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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find business people willing to loan money, 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.

Related Links:

Advice on Getting a Small Business Loan

Best Charlotte, North Carolina Banks for Small Business

Getting an SBA Loan in North Carolina