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May 9, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Reston, Business Loans > Millennium Bank Reston Business Loans > Amusement And Recreation Services Loan | ||||
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Herndon, Virginia Bank Loan
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Business Loans for Sports and Recreation InstructionLooking for business loans for sports and recreation instruction? The SBA may be the answer. This $1,333,333 sports and recreation instruction loan was issued by a Virginia bank. This small business knew how to go about getting a business bank loan. Based in Herndon, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Millennium Bank, based in Reston, Virginia. SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES SBA Loan Lender MILLENNIUM BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7999 - Amusement and Recreation Services NAICS Code 611620 - Sports and Recreation Instruction Loan Approval Date 6/10/2003 Loan Approval Gross Amount $1,333,333 Loan Approval from the SBA Of the total $1,333,333 loan amount, the SBA guaranteed $1,000,000. 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 12 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 $1,333,333 loan. Remember, fight for what you want, and it will be yours! 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: Microlending as a Small Business Funding Source Best Banks for Small Business in Reston, Virginia SBA Participating Banks in Virginia
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