Newport News, Virginia Entrepreneur Gets a Business Loan

Would a Virginia business loan help your company expand? If so, you may want to talk with this California bank, which offers SBA loans to Virginia entrepreneurs.

You can learn something about getting a small business loan in Newport News, Virginia by studying this loan to Boo Boo Wireless, made back in 2004. Banks like Innovative Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

BOO BOO WIRELESS
11002 B JEFFERSON AVENUE
NEWPORT NEWS, VA 23601

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

513321 - Paging

Loan Approval Date

6/23/2004

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $4,250.

More Information on This SBA Loan

The borrower, Boo Boo Wireless, borrowed this money for a new business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. This loan was paid in full, and was closed out on 5/2/2006.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like Boo Boo Wireless did when it applied for and received this $5,000 loan. Remember, feel the fear, and do it anyway.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Obtaining Funding - How to Borrow Money

Best Oakland, California Banks for Small Business

SBA Participating Banks in California

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.