Getting an SBA Loan for Paint and Wallpaper Stores

With these commercial loans for paint and wallpaper stores, the SBA guarantees the lender that the loan will be repaid. This paint and wallpaper stores loan for $110,000 was given to a West Virginia entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Elkins, West Virginia, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Mountain Valley Bank, based in Elkins, West Virginia.

SBA Loan Borrower

COMPANY TYPE: PAINT AND WALLPAPER STORES
ELKINS, WV 26241

SBA Loan Lender

MOUNTAIN VALLEY BANK
317 DAVIS AVE
ELKINS, WV 26241

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444120 - Paint and Wallpaper Stores

Loan Approval Date

9/6/2006

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 2 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Mountain Valley 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:

Small Business Loan

SBA Banks in Elkins, West Virginia

West Virginia SBA Banks