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May 16, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Charlottesville, Business Loans > Virginia National Bank Charlottesville Business Loans > Bread, Cake, And Related Bakery Products Loan | ||||
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We Needed an SBA 7A Loan in Charlottesville, Virginia and We Got One!
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Getting an SBA Loan for Commercial BakeriesLooking for commercial loans for commercial bakeries? The SBA may be the answer. This $35,000 commercial bakeries loan was issued by a Virginia bank. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Virginia National Bank, out of Charlottesville, Virginia. The loan was granted and they received $35,000 to help grow their Charlottesville, Virginia business. SBA Loan Borrower COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS SBA Loan Lender VIRGINIA NATIONAL BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2051 - Bread, Cake, and Related Bakery Products NAICS Code 311812 - Commercial Bakeries Loan Approval Date 5/10/2002 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Virginia National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Business Banks in Charlottesville, Virginia
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