SBA Loan from Community So. Bank D.B.A Commun Helps Sporting Goods Stores Company
An SBA loan from Community So. Bank D.B.A Commun typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Jamestown, Virginia business owner got a $212,000 loan.
Getting a small business loan in Jamestown, Virginia was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Community So. Bank D.B.A Commun, operating out of Parsons, Tennessee. Here are the details on this Virginia small business loan.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES
JAMESTOWN, VA 23188
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
451110 - Sporting Goods Stores
Loan Approval Date
5/22/2006
Loan Approval Gross Amount
$212,000
Loan Approval from the SBA
Of the total $212,000 loan amount, the SBA guaranteed $159,000.
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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community So. Bank D.B.A Commun and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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
Where to Get an SBA Loan in Parsons, Tennessee
Getting an SBA Loan in Tennessee