The Huntington National Bank Gives Bank Loan to Industrial Supplies Company

Small business loans in West Virginia are hard to find these days. We take a look at one West Virginia small business loan, provided by a West Virginia bank, that was approved by the SBA.

This small business, based in Charleston, West Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Huntington National Bank. We've got the inside scoop on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES
CHARLESTON, WV 25304

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
900 LEE ST
CHARLESTON, WV 25301

This loan for a small business 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

5085 - Industrial Supplies

NAICS Code

421810 - Construction and Mining Machinery and Equipment Wholesale

Loan Approval Date

2/9/2001

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Charleston 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.

Related Links:

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SBA Lenders in West Virginia