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April 28, 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 > Eating Places Loan | ||||
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Best Banks for Suffolk Business Owners
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Full-Service Restaurants Small Business LoansLooking for small business loans for full-service restaurants? The SBA may be the answer. This $200,000 full-service restaurants loan was issued by a Virginia bank. This company knew how to go about getting a business bank loan. Based in Suffolk, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Resource Bank, based in Virginia Beach, Virginia. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender RESOURCE BANK This loan for a small business 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 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/13/2003 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Advice on Getting a Small Business Loan Small Bank Loans in Virginia Beach, Virginia SBA Participating Banks in Virginia
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