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November 15, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Webster Springs, Business Loans > United Bank Webster Springs Business Loans > Motor Vehicle Dealers Loan | ||||
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United Bank
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Business Loan from United Bank Given to Motor Vehicle Dealers CompanyUnited Bank has a track record as a leading provider of SBA loans. Find out how this West Virginia entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with United Bank, out of Webster Springs, West Virginia. The loan was granted and they received $50,000 to help grow their Cowen, West Virginia business. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender UNITED BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5521 - Motor Vehicle Dealers NAICS Code 441120 - Used Car Dealers Loan Approval Date 5/15/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like United Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Banks in Webster Springs, West Virginia West Virginia SBA Bank Lenders
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