Borrowing Money for Tire Dealers

Looking for small business loans for tire dealers? Try the SBA. This $30,000 tire dealers loan was issued by a West Virginia bank.

This small firm knew how to go about getting a business bank loan. Based in Clendenin, West Virginia, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was The Poca Valley Bank, Inc., based in Walton, West Virginia.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
CLENDENIN, WV 25045

SBA Loan Lender

THE POCA VALLEY BANK, INC.
7033 CHARLESTON RD
WALTON, WV 25286

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

8/24/2007

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 2 employees. The SBA loan documents indicated that the loan would help create 2 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a company in Clendenin WV, you ought to talk with a local Clendenin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Clendenin businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Poca Valley Bank, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Poca Valley Bank, Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Bank Credit Lines

SBA 7A Banks for Walton, West Virginia Loans

SBA Lenders in West Virginia