SBA Loan from Branch Bank & Trust Helps Full-Service Restaurants Company

Branch Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Virginia entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Staunton, Virginia was able to borrow $140,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $70,000 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
STAUNTON, VA 24401

SBA Loan Lender

BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722110 - Full-Service Restaurants

Loan Approval Date

5/15/2007

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $70,000.

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 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Staunton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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