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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Resource Bank Virginia Beach Business Loans > Limited-Service Restaurants Loan | ||||
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Resource Bank Commercial Loans
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Business Loans for Limited-Service RestaurantsWith these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $75,000 was given to a Virginia entrepreneur in 2003. This 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 2003. The lending bank was Resource Bank, based in Virginia Beach, Virginia. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender RESOURCE BANK This lender provides SBA debt financing 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 722211 - Limited-Service Restaurants Loan Approval Date 10/17/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 30 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 30 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need business start up money in Norfolk VA, you ought to talk with a local Norfolk SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Norfolk businesses. This SBA loan was for $75,000. How would you spend $75,000 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: Borrowing Money from Friends and Family SBA 7A Banks for Virginia Beach, Virginia Loans
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