Mechanicsville, VA Entrepreneur Gets SBA Loan to Buy Franchise

Borrowing money to buy a franchise? Peoples Bank Of Virginia has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mechanicsville, Virginia needed money to invest in a franchise back in 2008. Peoples Bank Of Virginia issued an SBA franchise loan. Here are the details on this Virginia small business loan.

SBA Loan Borrower

MIDLOTHIAN ROMP N ROLL
MECHANICSVILLE, VA 23116

SBA Loan Lender

PEOPLES BANK OF VIRGINIA
2702 N PARHAM RD
RICHMOND, VA 23294

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

1/31/2008

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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