Business Loan from Old Point National Bank - Phoebus Given to Flat Glass Company

An SBA loan from Old Point National Bank - Phoebus typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hampton, Virginia business owner got a $150,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Hampton, Virginia, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Old Point National Bank - Phoebus, based in Hampton, Virginia.

SBA Loan Borrower

COMPANY TYPE: FLAT GLASS
HAMPTON, VA 23666

SBA Loan Lender

OLD POINT NATIONAL BANK - PHOEBUS
1 W MELLEN ST
HAMPTON, VA 23663

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3211 - Flat Glass

NAICS Code

327211 - Flat Glass Manufacturing

Loan Approval Date

6/2/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Old Point National Bank - Phoebus that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Choosing VC Firms

Where to Get an SBA Loan in Hampton, Virginia

Virginia SBA Banks