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May 18, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Bristol, Business Loans > 1st Bank & Trust Bristol Business Loans > Individual And Family Social Services Loan | ||||
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Virginia Small Business SBA Loans
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Growing Company Gets a Virginia Business LoanVirginiaBank loans are available to Virginia firms through the SBA. In this case, a Virginia bank provides the loan. Getting a small business loan in Bristol, Virginia was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st Bank & Trust. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: INDIVIDUAL AND FAMILY SOCIAL SERVICES SBA Loan Lender 1ST BANK & TRUST 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 8322 - Individual and Family Social Services NAICS Code 624120 - Services for the Elderly and Persons with Disabilities Loan Approval Date 2/5/2002 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding. This SBA loan was for $60,000. How would you spend $60,000 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. Related Links: Borrowing Money from Friends and Family Small Bank Loans in Bristol, Virginia Browse All Business Loan Sources for Virginia
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