Loan to Buy Sylvan Learning Center Franchise Issued By Resource Bank

Need money to buy a Sylvan Learning Center franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sylvan Learning Center franchise may simply require a phone call to a local SBA banker. In 2002, Resource Bank issued an SBA franchise loan to an entrepreneur in Virginia Beach, Virginia. Because Sylvan Learning Center was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

SYLVAN LEARNING CENTER
VIRGINIA BEACH, VA 23455

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611710 - Educational Support Services

Loan Approval Date

4/12/2002

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 18 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Resource Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Sylvan Learning Center

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