 |
 |
December 21, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Virginia Business Loan Sources > Reston, Business Loans > Millennium Bank Reston Business Loans > Food Preparations Loan | ||||
 |
||||
Raising Money in Sterling, Virginia With SBA Loans
|
||||
 |
Financing for Coffee and Tea ManufacturingLooking for loans for coffee and tea manufacturing? The SBA may be the answer. This $150,000 coffee and tea manufacturing loan was issued by a Virginia bank. This small firm knew how to go about getting a business bank loan. Based in Sterling, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Millennium Bank, based in Reston, Virginia. SBA Loan Borrower COMPANY TYPE: FOOD PREPARATIONS SBA Loan Lender MILLENNIUM BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2099 - Food Preparations NAICS Code 311920 - Coffee and Tea Manufacturing Loan Approval Date 4/17/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 19 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Millennium Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Millennium Bank 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. Related Links: Advice on Getting a Small Business Loan Best Banks for Small Business in Reston, Virginia
|
|
||
|
||||
|
|
||||