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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Strasburg, Business Loans > First Bank Strasburg Business Loans > Eating Places Loan | ||||
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Small Business Banks for Winchester Businesses
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Winchester, Virginia Entrepreneur Gets a Small Business LoanVirginiaSmall business loans are available to Virginia small business owners through the SBA. In this case, a Virginia bank provides the loan. This business, based in Winchester, 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 First Bank. We've got the inside scoop on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FIRST BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 1/14/2000 Loan Approval Gross Amount $27,000 Loan Approval from the SBA Of the total $27,000 loan amount, the SBA guaranteed $21,600. 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 5 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $27,000 loan. Remember, things become real when you believe you can achieve them! 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: How Much Venture Capital Is There? Small Bank Loans in Strasburg, Virginia
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