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May 8, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Reston, Business Loans > Millennium Bank Reston Business Loans > Pet Care Services Loan | ||||
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Millennium Bank Small Business Loans Sterling (census Name Sterling, VA
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Sterling (census Name Sterling, Virginia Business Gets SBA-Guaranteed Funding from Millennium BankMillennium Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Virginia entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Sterling (census Name Sterling, Virginia, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Millennium Bank, based in Reston, Virginia. SBA Loan Borrower COMPANY TYPE: PET CARE SERVICES SBA Loan Lender MILLENNIUM BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812910 - Pet Care Services Loan Approval Date 3/23/2006 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Banks for Reston, Virginia Loans
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