Sonabank, National Association SBA Loan to Full-Service Restaurants Company

An SBA loan from Sonabank, National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stafford, Virginia business owner got a $125,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Sonabank, National Association, out of Charlottesville, Virginia. The loan was granted and they received $125,000 to help grow their Stafford, Virginia business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
STAFFORD, VA 22554

SBA Loan Lender

SONABANK, NATIONAL ASSOCIATION
1770 TIMBERWOOD BLVD, STE 100
CHARLOTTESVILLE, VA 22911

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

722110 - Full-Service Restaurants

Loan Approval Date

1/12/2007

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 20 employees. This SBA loan request indicated that the loan would help retain 20 existing jobs.

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

If you need business start up money in Stafford VA, you ought to talk with a local Stafford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Stafford businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sonabank, National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sonabank, National Association made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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