Resource Bank Gives Small Business Loan to Computer Storage Device Manufacturing Company

Searching for a Virginia small business loan? This Virginia entrepreneur got a small business loan, provided by a Virginia bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Tabb, Virginia by studying this loan to a local company, made back in 2001. Banks like Resource Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER STORAGE DEVICE MANUFACTURING
TABB, VA 23693

SBA Loan Lender

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

This lender provides SBA debt financing 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

334112 - Computer Storage Device Manufacturing

Loan Approval Date

12/14/2001

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 64 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 64 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $900,000 loan. Remember, feel the fear, and do it anyway.

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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