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| Entrepreneur Resources | Resource Bank Virginia Beach Business Loans | ||||
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Resource Bank SBA Loans
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How to Get a Loan for Computer and Office Machine Repair and MaintenanceWith these business loans for computer and office machine repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This computer and office machine repair and maintenance loan for $52,500 was given to a Virginia entrepreneur in 2001.
Geeks On Call knew how to go about getting a business bank loan. Based in Newport News, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Resource Bank, based in Virginia Beach, Virginia. SBA Loan Borrower GEEKS ON CALL SBA Loan Lender RESOURCE BANK 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 811212 - Computer and Office Machine Repair and Maintenance Loan Approval Date 7/18/2001 Loan Approval Gross Amount $52,500 Loan Approval from the SBA Of the total $52,500 loan amount, the SBA guaranteed $44,625. More Information on This SBA Loan The borrower, Geeks On Call, 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. This loan was paid in full, and was closed out on 6/21/2006. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Best Virginia Beach, Virginia Banks for Small Business Getting an SBA Loan in Virginia 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.
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