Virginia Business Loan Issued to Food Stores Company

Bank loans in Virginia are tough to come by these days. We take a look at one Virginia bank loan, provided by a Virginia bank, that was approved by the SBA.

Getting a small business loan in Petersburg, Virginia was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Branch Bank & Trust. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD STORES
PETERSBURG, VA 23804

SBA Loan Lender

BRANCH BANK & TRUST
117 E WASHINGTON ST
PETERSBURG, VA 23803

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

Loan Approval Date

3/20/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Branch Bank & Trust and they will explain how you can get an SBA loan for your company.

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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