Financing for Hardware Wholesalers

Looking for commercial loans for hardware wholesalers? The SBA may be the answer. This $200,000 hardware wholesalers loan was issued by a West Virginia bank.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Summit Community Bank, Inc, out of Moorefield, West Virginia. The loan was granted and they received $200,000 to help grow their Charleston, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: HARDWARE
CHARLESTON, WV 25303

SBA Loan Lender

SUMMIT COMMUNITY BANK, INC
310 N MAIN ST
MOOREFIELD, WV 26836

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5072 - Hardware

NAICS Code

421710 - Hardware Wholesalers

Loan Approval Date

6/1/2000

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Cash Advances

SBA 7A Banks in Moorefield, West Virginia

West Virginia SBA Banks