Mclean, VA Entrepreneur Gets SBA Loan to Buy Geeks On Call Franchise

Need money to purchase a Geeks On Call franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mclean, Virginia needed money to invest in a Geeks On Call franchise back in 2001. Resource Bank issued an SBA franchise loan. Here are the details on this Virginia small business loan.

SBA Loan Borrower

FARRINGTON OF VIENNA, INC. AND
MCLEAN, VA 22101

SBA Loan Lender

RESOURCE BANK
4429 BONNEY RD, STE 300
VIRGINIA BEACH, VA 23462

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

811212 - Computer and Office Machine Repair and Maintenance

Loan Approval Date

12/12/2001

Loan Approval Gross Amount

$55,100

Loan Approval from the SBA

Of the total $55,100 loan amount, the SBA guaranteed $46,835.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Geeks On Call franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 $55,100 loan. Remember, you control your own destiny.

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:

Geeks On Call

Accountant's Role in Securing Financing

Small Bank Loans in Virginia Beach, Virginia

Virginia SBA 7A Banks