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November 22, 2024  
 
 
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Get an SBA 7A Loan in Manassas, Virginia

 

 
Loan Census SBA Loan Info

Local Business Gets a Virginia Bank Loan

VirginiaBusiness loans are available to Virginia business owners through the SBA. In this case, a New Jersey bank provides the loan.

This small business, based in Manassas, Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Valley National Bank. We've got the inside scoop on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MANASSAS, VA 20110

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/7/2003

Loan Approval Gross Amount

$432,000

Loan Approval from the SBA

Of the total $432,000 loan amount, the SBA guaranteed $324,000.

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 only one employee. This SBA loan request indicated that the loan would help generate 29 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $432,000 loan. Remember, anyone can do it... so why not 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.

Related Links:

Business Cash Advances

SBA Banks in North Plainfield, New Jersey

Getting an SBA Loan in New Jersey