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May 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Troutville, Business Loans > Bank Of Botetourt Troutville Business Loans > Drug Stores And Proprietary Stores Loan | ||||
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Banks Doing SBA Loans in Virginia
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Troutville, Virginia Bank Gives SBA Loan to Drug Stores And Proprietary Stores CompanyWant to talk with a Troutville, Virginia bank about a business loan? Here's one Virginia business loan, issued by a Troutville bank, that was approved by the SBA. Applying for an SBA loan with Bank Of Botetourt worked out well for our friends at one local firm in Buchanan, Virginia. They received an SBA loan for $150,000. Awesome! SBA Loan Borrower COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES SBA Loan Lender BANK OF BOTETOURT 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 5912 - Drug Stores and Proprietary Stores NAICS Code 446110 - Pharmacies and Drug Stores Loan Approval Date 7/13/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 $150,000 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: Realistic Debt Financing Options Best Troutville, Virginia Banks for Small Business
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