Resource Bank SBA Loan to Dairy Product Wholesalers Company

An SBA loan from Resource Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Virginia Beach, Virginia business owner got a $225,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Virginia Beach, Virginia was able to borrow $225,000 from Resource Bank. The SBA made the loan possible by guaranteeing $168,750 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: DAIRY PRODUCT WHOLESALERS
VIRGINIA BEACH, VA 23464

SBA Loan Lender

RESOURCE BANK
4429 BONNEY RD, STE 300
VIRGINIA BEACH, VA 23462

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422430 - Dairy Product Wholesalers

Loan Approval Date

1/5/2006

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 25 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Resource Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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