Getting an SBA Loan for Paint and Wallpaper Stores

With these commercial loans for paint and wallpaper stores, the SBA guarantees the lender that the loan will be repaid. This paint and wallpaper stores loan for $50,000 was given to a Virginia entrepreneur in 2001.

Getting a small business loan in Kilmarnock, Virginia was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Lancaster, operating out of Kilmarnock, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINT, GLASS, AND WALLPAPER STORES
KILMARNOCK, VA 22482

SBA Loan Lender

BANK OF LANCASTER
100 S MAIN ST
KILMARNOCK, VA 22482

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5231 - Paint, Glass, and Wallpaper Stores

NAICS Code

444120 - Paint and Wallpaper Stores

Loan Approval Date

10/9/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of Lancaster are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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