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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Wheeling, Business Loans > Progressive Bank Wheeling Business Loans > Commercial Equipment Loan | ||||
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West Virginia Bank SBA Loans
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Business Loan from Progressive Bank Given to Commercial Equipment CompanyProgressive Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Ohio entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Progressive Bank, out of Wheeling, West Virginia. The loan was granted and they received $130,000 to help grow their Bridgeport, Ohio business. SBA Loan Borrower COMPANY TYPE: COMMERCIAL EQUIPMENT SBA Loan Lender PROGRESSIVE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5046 - Commercial Equipment NAICS Code 421440 - Commercial Equipment Wholesalers Loan Approval Date 2/4/2000 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $97,500. 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Find an SBA Lender in Wheeling, West Virginia
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