Norfolk, VA Entrepreneur Gets SBA Loan to Buy Color Me Mine Franchising, Inc Franchise

Need a loan to purchase a Color Me Mine Franchising, Inc franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA.

Color Me Mine Franchising, Inc franchise loans are available to Norfolk, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Resource Bank, based in Virginia Beach, Virginia, issued an SBA franchise loan for a Color Me Mine Franchising, Inc franchise in 2004. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

COLOR ME MINE
NORFOLK, VA 23517

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

5/12/2004

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Color Me Mine Franchising, Inc franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $105,000. How would you spend $105,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Color Me Mine Enterprises

Getting a Small Business Loan

Best Virginia Beach, Virginia Banks for Small Business

SBA Lenders in Virginia