Virginia SBA Loan Issued to Drinking Places Company

Bank loans in Virginia are tough to come by these days. We take a look at one Virginia bank loan, provided by a Virginia bank, that was approved by the SBA.

Getting a small business loan in Virginia Beach, Virginia was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Resource Bank. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
VIRGINIA BEACH, VA 23451

SBA Loan Lender

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

This lender provides SBA small 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

722410 - Drinking Places

Loan Approval Date

7/24/2002

Loan Approval Gross Amount

$840,000

Loan Approval from the SBA

Of the total $840,000 loan amount, the SBA guaranteed $630,000.

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 2 employees. The SBA loan documents indicated that the loan would help retain 40 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Resource Bank 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.

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