Mental Health Practitioners Loans

With these loans for mental health practitioners, the SBA guarantees the lender that the loan will be repaid. This mental health practitioners loan for $150,000 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 Sonabank, National Association, based in Charlottesville, Virginia.

SBA Loan Borrower

COMPANY TYPE: MENTAL HEALTH PRACTITIONERS
VIRGINIA BEACH, VA 23452

SBA Loan Lender

SONABANK, NATIONAL ASSOCIATION
1770 TIMBERWOOD BLVD, STE 100
CHARLOTTESVILLE, VA 22911

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621330 - Mental Health Practitioners

Loan Approval Date

7/24/2007

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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Sonabank, National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Credit Cards

Best Charlottesville, Virginia Banks for Small Business

SBA Virginia Lenders