Small Business Loans for Construction and Mining Machinery and Equipment Wholesale

With these small business loans for construction and mining machinery and equipment wholesale, the SBA guarantees the lender that the loan will be repaid. This construction and mining machinery and equipment wholesale loan for $615,800 was given to a West Virginia entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chapmanville, West Virginia was able to borrow $615,800 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $461,850 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY
CHAPMANVILLE, WV 25508

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5082 - Construction and Mining Machinery

NAICS Code

421810 - Construction and Mining Machinery and Equipment Wholesale

Loan Approval Date

1/4/2000

Loan Approval Gross Amount

$615,800

Loan Approval from the SBA

Of the total $615,800 loan amount, the SBA guaranteed $461,850.

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 30 employees. This SBA loan request indicated that the loan would help generate 30 new jobs and retain 30 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Chapmanville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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