Entrepreneur Works With Warrenton, Virginia Bank to Get an SBA Loan

Want to talk with a Warrenton, Virginia bank about a small business loan? Here's one West Virginia business loan, issued by a Warrenton bank, that was approved by the SBA.

Applying for an SBA loan with Provident Bank Of Maryland worked out well for our friends at one local company in Beckley, West Virginia. They received an SBA loan for $1,175,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
BECKLEY, WV 25801

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5511 - Motor Vehicle Dealers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

4/26/2002

Loan Approval Gross Amount

$1,175,000

Loan Approval from the SBA

Of the total $1,175,000 loan amount, the SBA guaranteed $881,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 29 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $1,175,000. How would you spend $1,175,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Small Business Credit Cards

Small Bank Loans in Warrenton, Virginia

Getting an SBA Loan in Virginia