Small Business Loans for Tortilla Manufacturing

With these small business loans for tortilla manufacturing, the SBA guarantees the lender that the loan will be repaid. This tortilla manufacturing loan for $63,240 was given to a Virginia entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Branch Bank & Trust, out of Richmond, Virginia. The loan was granted and they received $63,240 to help grow their Harrisonburg, Virginia business.

SBA Loan Borrower

COMPANY TYPE: FOOD PREPARATIONS
HARRISONBURG, VA 22801

SBA Loan Lender

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

This lender issued this particular SBA 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

2099 - Food Preparations

NAICS Code

311830 - Tortilla Manufacturing

Loan Approval Date

9/24/2001

Loan Approval Gross Amount

$63,240

Loan Approval from the SBA

Of the total $63,240 loan amount, the SBA guaranteed $53,754.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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