SBA Loan from City National Bank - W. Virginia Helps Floor Covering Stores Company

An SBA loan from City National Bank - W. Virginia typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ashland, Kentucky business owner got a $60,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Ashland, Kentucky, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was City National Bank - W. Virginia, based in Ashland, Kentucky.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
ASHLAND, KY 41102

SBA Loan Lender

CITY NATIONAL BANK - W. VIRGINIA
344 17TH ST
ASHLAND, KY 41101

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

2/5/2004

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 5 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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SBA Participating Banks in Ashland, Kentucky

SBA Participating Banks in Kentucky