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| Entrepreneur Resources | Townebank Newport News Business Loans | ||||
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Best Banks in Virginia
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Getting an SBA Loan for Food Supplement StoresLooking for commercial loans for food supplement stores? Talk to a banker who works with the SBA. This $410,000 food supplement stores loan was issued by a Virginia bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newport News, Virginia was able to borrow $410,000 from Townebank. The SBA made the loan possible by guaranteeing $307,500 of this Virginia small business loan. SBA Loan Borrower HEALTH TRAIL, INC. SBA Loan Lender TOWNEBANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5499 - Miscellaneous Food Stores NAICS Code 446191 - Food (Health) Supplement Stores Loan Approval Date 10/24/2001 Loan Approval Gross Amount $410,000 Loan Approval from the SBA Of the total $410,000 loan amount, the SBA guaranteed $307,500. More Information on This SBA Loan The borrower, Health Trail, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Townebank and they will explain how you can get an SBA loan for your company. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Find an SBA Lender in Newport News, Virginia Browse All Business Loan Sources for 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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