Growing Company Gets a Virginia Bank Loan

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 Skippers, Virginia was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SKIPPERS, VA 23879

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

When it made this small business loan, this bank participated in the SBA's Certified Lenders Program (CLP). This program is designed to provide rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/31/2001

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $320,625.

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 7 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Skippers VA, you ought to talk with a local Skippers SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Skippers businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Business Loan Center, LLC so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Direct Public Offerings

Best Banks for Small Business in Richmond, Virginia

Getting a Business Loan in Virginia