First Bank SBA Loan to Eating Places Company

Want a Virginia business loan? Here's one Virginia business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Winchester, Virginia was able to borrow $72,000 from First Bank. The SBA made the loan possible by guaranteeing $57,600 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WINCHESTER, VA 22601

SBA Loan Lender

FIRST BANK
112 W KING ST
STRASBURG, VA 22657

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/29/2000

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $57,600.

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. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Winchester VA, you ought to talk with a local Winchester SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Winchester businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Bank and they will explain how you can get an SBA loan for your company.

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.

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