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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 > Computer Related Services Loan | ||||
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How to Get a Small Business Loan in Reston (51.059.2034), Virginia
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Firm Gets a Virginia Bank LoanWould a Virginia small business loan help your small business to grow and prosper? If so, you may want to talk with this Virginia bank, which offers SBA loans to Virginia entrepreneurs. This business, based in Reston (51.059.2034), Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Millennium Bank. We've got the inside scoop on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender MILLENNIUM BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7379 - Computer Related Services NAICS Code 541519 - Computer Related Services Loan Approval Date 2/21/2001 Loan Approval Gross Amount $1,307,000 Loan Approval from the SBA Of the total $1,307,000 loan amount, the SBA guaranteed $980,250. 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 120 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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 Millennium 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: Obtaining Funding - Friends and Family Good Banks for Small Business in Reston, Virginia Browse All Business Loan Sources for Virginia
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