Entrepreneur Works With Virginia Beach, Virginia Bank to Get an SBA Loan

Get small business loans from a Virginia Beach, Virginia bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Resource Bank is a Virginia Beach, Virginia small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Virginia company.

SBA Loan Borrower

COMPANY TYPE: TRANSIT AND GROUND PASSENGER TRANSPORTATION
SUFFOLK, VA 23435

SBA Loan Lender

RESOURCE BANK
4429 BONNEY RD, STE 300
VIRGINIA BEACH, VA 23462

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

485999 - Transit and Ground Passenger Transportation

Loan Approval Date

1/4/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

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 23 employees. This SBA loan request indicated that the loan would help retain 23 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Realistic Debt Financing Options

Banks in Virginia Beach, Virginia

Virginia SBA Banks