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May 19, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Winchester, Business Loans > United Bank Winchester Business Loans > Eating Places Loan | ||||
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Getting an SBA 7A Loan in Winchester, Virginia
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United Bank Gives SBA Loan to Eating Places CompanyWant a Virginia bank loan? This Virginia entrepreneur got a bank loan, provided by a Virginia bank that works with the SBA to help small business owners. Getting a small business loan in Winchester, Virginia was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from United Bank. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender UNITED BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/30/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 2 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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. Related Links: SBA Participating Banks in Winchester, Virginia
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