The First State Bank Gives Bank Loan to Musical Instrument Stores Company

Would a West Virginia small business loan help your small business to grow and prosper? If so, you may want to talk with this West Virginia bank, which offers SBA loans to West Virginia entrepreneurs.

This business, based in Barboursville, West Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The First State Bank. We've got the inside scoop on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT STORES
BARBOURSVILLE, WV 25504

SBA Loan Lender

THE FIRST STATE BANK
660 CENTRAL AVE
BARBOURSVILLE, WV 25504

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

5736 - Musical Instrument Stores

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

11/24/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Financing Your Business

Banks in Barboursville, West Virginia

SBA Participating Banks in West Virginia