Mountain Valley Bank SBA Loan to Railroads, Line-Haul Operating Company

Mountain Valley Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a West Virginia entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Durbin, West Virginia was able to borrow $105,000 from Mountain Valley Bank. The SBA made the loan possible by guaranteeing $78,750 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: RAILROADS, LINE-HAUL OPERATING
DURBIN, WV 26264

SBA Loan Lender

MOUNTAIN VALLEY BANK
317 DAVIS AVE
ELKINS, WV 26241

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4011 - Railroads, Line-Haul Operating

NAICS Code

482111 - Line-Haul Railroads

Loan Approval Date

1/10/2000

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $78,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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