Getting an SBA Loan for Exam Preparation and Tutoring

With these business loans for exam preparation and tutoring, the SBA guarantees the lender that the loan will be repaid. This exam preparation and tutoring loan for $240,000 was given to a Virginia entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bank Of Floyd, out of Floyd, Virginia. The loan was granted and they received $240,000 to help grow their Roanoke, Virginia business.

SBA Loan Borrower

COMPANY TYPE: EXAM PREPARATION AND TUTORING
ROANOKE, VA 24018

SBA Loan Lender

BANK OF FLOYD
101 JACKSONVILLE CIR
FLOYD, VA 24091

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

611691 - Exam Preparation and Tutoring

Loan Approval Date

2/16/2005

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $120,000.

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 3 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

504 Loans

Small Business Banks in Floyd, Virginia

Getting an SBA Loan in Virginia