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May 14, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Vienna, Business Loans > The Business Bank Vienna Business Loans > Manufacturing Industries Loan | ||||
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Vienna, Virginia SBA Banks
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Entrepreneur Works With Vienna, Virginia Bank to Get an SBA LoanWant to talk with a Vienna, Virginia bank about a business loan? Here's one Virginia business loan, issued by a Vienna bank, that was approved by the SBA. Applying for an SBA loan with The Business Bank worked out well for our friends at one local company in Annandale, Virginia. The business was able to get an SBA loan for $500,000. Great job! SBA Loan Borrower COMPANY TYPE: MANUFACTURING INDUSTRIES SBA Loan Lender THE BUSINESS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business 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 3999 - Manufacturing Industries NAICS Code 421990 - Durable Goods Wholesalers Loan Approval Date 3/20/2003 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $450,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. We can help you find the best banks for small businesses in Annandale or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Determining Proper Capital Structure for a Business SBA Approved Banks in Vienna, Virginia
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