The First State Bank Gives Bank Loan to Industrial And Commercial Machinery And Equipment Company

Looking to get a West Virginia business loan? This West Virginia entrepreneur got a business loan, provided by a West Virginia bank that works with the SBA to help small business owners.

Getting a small business loan in Charleston, West Virginia was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The First State Bank. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
CHARLESTON, WV 25302

SBA Loan Lender

THE FIRST STATE BANK
660 CENTRAL AVE
BARBOURSVILLE, WV 25504

This business 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

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

332710 - Machine Shops

Loan Approval Date

5/23/2002

Loan Approval Gross Amount

$353,000

Loan Approval from the SBA

Of the total $353,000 loan amount, the SBA guaranteed $264,750.

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 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The First State Bank and they will explain how you can get an SBA loan for your company.

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:

Borrowing Money from Friends and Family

Where to Get an SBA Loan in Barboursville, West Virginia

Getting an SBA Loan in West Virginia