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April 24, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Portsmouth, Business Loans > Branch Bank & Trust Portsmouth Business Loans > Optioncare Loan | ||||
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Virginia Small Business Funding for Franchises
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Borrow Money to Buy an Option Care FranchiseBorrowing money to buy an Option Care franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Newport News, Virginia needed money to invest in an Option Care franchise back in 2000. Branch Bank & Trust issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower OPTIONCARE SBA Loan Lender BRANCH BANK & TRUST This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5912 - Drug Stores and Proprietary Stores NAICS Code 446110 - Pharmacies and Drug Stores Loan Approval Date 2/8/2000 Loan Approval Gross Amount $240,000 Loan Approval from the SBA Of the total $240,000 loan amount, the SBA guaranteed $180,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Option Care franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient 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? SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $240,000. How would you spend $240,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 7A Banks in Portsmouth, Virginia
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