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May 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Bluefield, Business Loans > National Bank - Blacksburg Bluefield Business Loans > Grocery Stores Loan | ||||
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Virginia Bank SBA Loans
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National Bank - Blacksburg SBA Loan to Grocery Stores CompanyLooking to get a Virginia small business loan? Here's one Virginia business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wytheville, Virginia was able to borrow $850,000 from National Bank - Blacksburg. The SBA made the loan possible by guaranteeing $637,500 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender NATIONAL BANK - BLACKSBURG SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores Loan Approval Date 6/29/2000 Loan Approval Gross Amount $850,000 Loan Approval from the SBA Of the total $850,000 loan amount, the SBA guaranteed $637,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to find other ways to get money to start a business, 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: Getting an SBA Loan in Virginia
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