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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 > Gasoline Stations With Convenience Stores Loan | ||||
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Business Loans from Resource Bank
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Portsmouth, Virginia Business Gets SBA-Guaranteed Funding from Resource BankResource Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Virginia entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Portsmouth, Virginia was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Resource Bank, operating out of Virginia Beach, Virginia. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender RESOURCE BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 11/7/2003 Loan Approval Gross Amount $680,000 Loan Approval from the SBA Of the total $680,000 loan amount, the SBA guaranteed $510,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Resource Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Good Banks for Small Business in Virginia Beach, Virginia
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