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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Strasburg, Business Loans > First Bank Strasburg Business Loans > Amusement And Recreation Services Loan | ||||
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Strasburg, Virginia Bank for SBA Loans
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Entrepreneur Works With Strasburg, Virginia Bank to Get an SBA LoanWant to talk with a Strasburg, Virginia bank about an SBA loan? Here's one Virginia business loan, issued by a Strasburg bank, that was approved by the SBA. Applying for an SBA loan with First Bank worked out well for our friends at one local company in Harrisonburg, Virginia. The business was able to get an SBA loan for $150,000. Sweet! SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES SBA Loan Lender FIRST BANK This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7999 - Amusement and Recreation Services NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 6/21/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Bank 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: Small Business Banks in Strasburg, Virginia
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