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May 2, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Resource Bank Virginia Beach Business Loans > Velocity Sports Performance Loan | ||||
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Virginia Small Business Funding for Franchises
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Glen Allen, VA Entrepreneur Gets SBA Loan to Buy Velocity Sports Performance FranchiseNeed a loan to buy a Velocity Sports Performance franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Velocity Sports Performance franchise? If so, here's a 2004 SBA franchise loan that you should know about. Resource Bank was the lender and the entrepreneur was based in Glen Allen, Virginia. SBA Loan Borrower VELOCITY SPORTS PERFORMANCE SBA Loan Lender RESOURCE BANK This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 611620 - Sports and Recreation Instruction Loan Approval Date 8/26/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Velocity Sports Performance franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 8 new jobs and retain 1 existing job. 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. We can help you find the best banks for small businesses in Glen Allen 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 7A Banks for Virginia Beach, Virginia Loans Getting an SBA Loan in Virginia
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