Williamsburg, Virginia Business Gets SBA-Guaranteed Funding from Old Point National Bank - Phoebus

An SBA loan from Old Point National Bank - Phoebus typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Williamsburg, Virginia business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Williamsburg, Virginia was able to borrow $150,000 from Old Point National Bank - Phoebus. The SBA made the loan possible by guaranteeing $127,500 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTERS, PERIPHERALS, AND SOFTWARE
WILLIAMSBURG, VA 23183

SBA Loan Lender

OLD POINT NATIONAL BANK - PHOEBUS
5273 JOHN TYLER HWY
WILLIAMSBURG, VA 23185

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring 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

5045 - Computers, Peripherals, and Software

NAICS Code

421430 - Computer and Computer Peripheral Equipment and Software Wholesalers

Loan Approval Date

2/21/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 12 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

Equity Financing

Small Business Banks in Williamsburg, Virginia

Getting a Business Loan in Virginia