Loans for Mining Machinery and Equipment Manufacturing

Looking for loans for mining machinery and equipment manufacturing? The SBA may be the answer. This $150,000 mining machinery and equipment manufacturing loan was issued by a West Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bridgeport, West Virginia was able to borrow $150,000 from Mvb Bank, Inc.. The SBA made the loan possible by guaranteeing $127,500 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: MINING MACHINERY AND EQUIPMENT
BRIDGEPORT, WV 26330

SBA Loan Lender

MVB BANK, INC.
301 VIRGINIA AVE
FAIRMONT, WV 26554

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

3532 - Mining Machinery and Equipment

NAICS Code

333131 - Mining Machinery and Equipment Manufacturing

Loan Approval Date

12/21/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 8 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Bridgeport WV, you ought to talk with a local Bridgeport SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bridgeport businesses.

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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