Hampton, Virginia Bank Gives SBA Loan to General Merchandise Stores Company

Find Hampton, Virginia banks that specialize in SBA loans and know how to work with entrepreneurs. Old Point National Bank - Phoebus is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Hampton, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Old Point National Bank - Phoebus. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
HAMPTON, VA 23666

SBA Loan Lender

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

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

452990 - General Merchandise Stores

Loan Approval Date

10/14/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 8 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

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

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 Old Point National Bank - Phoebus 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:

Obtaining Funding - How to Decide How Much to Raise

SBA Participating Banks in Hampton, Virginia

Where to Get an SBA Loan Virginia