Business Loan from Resource Bank Given to Vocational Schools Company

Resource Bank has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Resource Bank, out of Virginia Beach, Virginia. The loan was granted and they received $692,000 to help grow their Woodford, Virginia business.

SBA Loan Borrower

COMPANY TYPE: VOCATIONAL SCHOOLS
WOODFORD, VA 22580

SBA Loan Lender

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

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8249 - Vocational Schools

Loan Approval Date

9/26/2000

Loan Approval Gross Amount

$692,000

Loan Approval from the SBA

Of the total $692,000 loan amount, the SBA guaranteed $519,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. The loan application indicated that the loan would help retain 14 existing jobs.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $692,000. How would you spend $692,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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