Virginia Small Business Loan Issued to Retail Bakeries Company

Small business loans in Virginia are tough to come by these days. We take a look at one Virginia small business loan, provided by a Virginia bank, that was approved by the SBA.

You can learn something about getting a small business loan in Charlottesville, Virginia by studying this loan to a local company, made back in 2002. Banks like Virginia National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
CHARLOTTESVILLE, VA 22902

SBA Loan Lender

VIRGINIA NATIONAL BANK
222 E MAIN ST
CHARLOTTESVILLE, VA 22902

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

3/7/2002

Loan Approval Gross Amount

$20,500

Loan Approval from the SBA

Of the total $20,500 loan amount, the SBA guaranteed $17,425.

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 4 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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