Small Business Loans for Homes for the Elderly

With these small business loans for homes for the elderly, the SBA guarantees the lender that the loan will be repaid. This homes for the elderly loan for $100,000 was given to a Virginia entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hardy, Virginia was able to borrow $100,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $85,000 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
HARDY, VA 24101

SBA Loan Lender

BRANCH BANK & TRUST
823 E MAIN ST
RICHMOND, VA 23219

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

4/25/2001

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Hardy VA, you ought to talk with a local Hardy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hardy businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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