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November 15, 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 > Pirtek Loan | ||||
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Resource Bank Commercial Loans for Franchisees
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Virginia Beach, VA Entrepreneur Gets SBA Loan to Buy Pirtek Usa FranchiseBorrowing money to purchase a Pirtek Usa franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Pirtek Usa franchise requires some effort but others before you have been successful. In 2007, Resource Bank issued an SBA franchise loan to an entrepreneur in Virginia Beach, Virginia. Because Pirtek Usa was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis. SBA Loan Borrower PIRTEK SBA Loan Lender RESOURCE BANK 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 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 10/12/2007 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Pirtek Usa franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? 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. 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: Find an SBA Lender in Virginia Beach, Virginia
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