Woodbridge, VA Entrepreneur Gets SBA Loan to Buy Geeks On Call Franchise

Need a loan to purchase a Geeks On Call franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Geeks On Call franchise? If so, here's a 2001 SBA franchise loan that you should know about. Resource Bank was the lender and the entrepreneur was based in Woodbridge, Virginia.

SBA Loan Borrower

GEEKS ON CALL
WOODBRIDGE, VA 22193

SBA Loan Lender

RESOURCE BANK
4429 BONNEY RD, STE 300
VIRGINIA BEACH, VA 23462

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811212 - Computer and Office Machine Repair and Maintenance

Loan Approval Date

11/9/2001

Loan Approval Gross Amount

$42,600

Loan Approval from the SBA

Of the total $42,600 loan amount, the SBA guaranteed $36,210.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Geeks On Call franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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