Luggage and Leather Goods Stores Commercial Loans

Looking for commercial loans for luggage and leather goods stores? Try the SBA. This $10,000 luggage and leather goods stores loan was issued by a West Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Elkins, West Virginia was able to borrow $10,000 from Mountain Valley Bank. The SBA made the loan possible by guaranteeing $8,500 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: LUGGAGE AND LEATHER GOODS STORES
ELKINS, WV 26241

SBA Loan Lender

MOUNTAIN VALLEY BANK
317 DAVIS AVE
ELKINS, WV 26241

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448320 - Luggage and Leather Goods Stores

Loan Approval Date

4/21/2005

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,500.

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 2 employees. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

This SBA loan was for $10,000. How would you spend $10,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Startup Funding Tip

SBA Participating Banks in Elkins, West Virginia

West Virginia SBA Bank Lenders