Hampton, Virginia Business Gets SBA-Guaranteed Funding from Sonabank, National Association

Sonabank, National Association has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them.

Getting a small business loan in Hampton, Virginia was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Sonabank, National Association, operating out of Charlottesville, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: PROCESS, PHYSICAL DISTRIBUTION, AND LOGISTICS CONSULTING SERVICES
HAMPTON, VA 23663

SBA Loan Lender

SONABANK, NATIONAL ASSOCIATION
1770 TIMBERWOOD BLVD, STE 100
CHARLOTTESVILLE, VA 22911

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541614 - Process, Physical Distribution, and Logistics Consulting Services

Loan Approval Date

3/20/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 2 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Sonabank, National Association 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.

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