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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Resource Bank Virginia Beach Business Loans > Full-Service Restaurants Loan | ||||
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I Need a Loan in Virginia Beach, Virginia
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Where to Get Capital for Full-Service RestaurantsWith these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $35,000 was given to a Virginia entrepreneur in 2007. This company knew how to go about getting a business bank loan. Based in Virginia Beach, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Resource Bank, based in Virginia Beach, Virginia. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender RESOURCE BANK The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 7/5/2007 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 18 new jobs and retain 12 existing jobs. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Resource Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Resource 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: Obtaining Funding - How to Decide How Much to Raise Small Bank Loans in Virginia Beach, Virginia
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