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May 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Charlottesville, Business Loans > United Bank Charlottesville Business Loans > Eating Places Loan | ||||
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Charlottesville Lenders
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Charlottesville, Virginia Bank Gives SBA Loan to Eating Places CompanyA Charlottesville, Virginia business loan can be yours. Learn how a business got a $75,400 business loan from this Virginia bank. This loan to a local firm is a good example of an SBA loan. United Bank made the loan and the SBA guaranteed a portion of the loan. Many other Virginia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender UNITED BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 7/19/2000 Loan Approval Gross Amount $75,400 Loan Approval from the SBA Of the total $75,400 loan amount, the SBA guaranteed $60,320. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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: SBA 7A Lenders in Charlottesville, Virginia Getting an SBA Loan in Virginia
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