Financial Investment Activities Commercial Loans

With these commercial loans for financial investment activities, the SBA guarantees the lender that the loan will be repaid. This financial investment activities loan for $50,000 was given to a Virginia entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Planters Bank & Trust - Virginia, out of Staunton, Virginia. The loan was granted and they received $50,000 to help grow their Staunton, Virginia business.

SBA Loan Borrower

COMPANY TYPE: SERVICES ALLIED WITH THE EXCHANGE OF SECURITIES
STAUNTON, VA 24401

SBA Loan Lender

PLANTERS BANK & TRUST - VIRGINIA
24 S AUGUSTA ST
STAUNTON, VA 24401

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6289 - Services Allied With the Exchange of Securities

NAICS Code

523999 - Financial Investment Activities

Loan Approval Date

9/19/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Planters Bank & Trust - Virginia 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:

Advice on Getting a Small Business Loan

SBA 7A Banks for Staunton, Virginia Loans

Virginia SBA 7A Banks