 |
 |
November 14, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Virginia Business Loan Sources > Warrenton, Business Loans > Provident Bank Of Maryland Warrenton Business Loans > Eating Places Loan | ||||
 |
||||
SBA Lenders That Lend to Virginia Entrepreneurs
|
||||
 |
Local Business Gets a Virginia Business LoanVirginiaBusiness loans are available to Virginia business owners through the SBA. In this case, a Virginia bank provides the loan. You can learn something about getting a small business loan in Midlothian, Virginia by studying this loan to a local business, made back in 2003. Banks like Provident Bank Of Maryland may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PROVIDENT BANK OF MARYLAND This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 8/1/2003 Loan Approval Gross Amount $131,000 Loan Approval from the SBA Of the total $131,000 loan amount, the SBA guaranteed $111,350. 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 20 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Provident Bank Of Maryland had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Provident Bank Of Maryland made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Participating Banks in Warrenton, Virginia
|
|
||
|
||||
|
|
||||