Virginia SBA Loan Issued to Testing Laboratories Company

Would a Virginia business loan help your company expand? If so, you may want to talk with this Virginia bank, which offers SBA loans to Virginia entrepreneurs.

This business, based in Virginia Beach, Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Monarch Bank. We've got the inside scoop on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
VIRGINIA BEACH, VA 23452

SBA Loan Lender

MONARCH BANK
1101 EXECUTIVE BLVD
CHESAPEAKE, VA 23320

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

541380 - Testing Laboratories

Loan Approval Date

12/19/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help create 3 new jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

Best Chesapeake, Virginia Banks for Small Business

Virginia SBA Bank Lenders