Entrepreneur Works With Parsons, West Virginia Bank to Get an SBA Loan

Thinking about meeting with a Parsons, West Virginia bank about an SBA loan? Here's one West Virginia business loan, issued by a Parsons bank, that was approved by the SBA.

Applying for an SBA loan with Citizens National Bank - Elkins worked out well for our friends at one local firm in Buckhannon, West Virginia. They received an SBA loan for $60,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BUCKHANNON, WV 26201

SBA Loan Lender

CITIZENS NATIONAL BANK - ELKINS
226 WALNUT ST
PARSONS, WV 26287

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/2/2005

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 a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens National Bank - Elkins that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding - Friends and Family

Find an SBA Lender in Parsons, West Virginia

Getting an SBA Loan in West Virginia