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May 15, 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 > Amusement And Recreation Industries Loan | ||||
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Midlothian, Virginia Bank Loan
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Amusement and Recreation Industries Business LoansWith these business loans for amusement and recreation industries, the SBA guarantees the lender that the loan will be repaid. This amusement and recreation industries loan for $400,000 was given to a Virginia entrepreneur in 2000. This business knew how to go about getting a business bank loan. Based in Midlothian, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Resource Bank, based in Virginia Beach, Virginia. SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES SBA Loan Lender RESOURCE 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 713990 - Amusement and Recreation Industries Loan Approval Date 10/26/2000 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 only one employee. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business If you are raising money in Midlothian VA, you ought to talk with a local Midlothian SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Midlothian businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Banks in Virginia Beach, Virginia Getting an SBA Loan in Virginia
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