SBA Loans for Commercial Bakeries

With these SBA loans for commercial bakeries, the SBA guarantees the lender that the loan will be repaid. This commercial bakeries loan for $200,000 was given to a Virginia entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Norfolk, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Resource Bank, based in Virginia Beach, Virginia.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL BAKERIES
NORFOLK, VA 23502

SBA Loan Lender

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

This SBA small business 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

311812 - Commercial Bakeries

Loan Approval Date

2/21/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 69 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Resource Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Resource Bank 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:

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SBA Participating Banks in Virginia Beach, Virginia

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