Get an SBA Loan for Water Supply and Irrigation Systems

Looking for loans for water supply and irrigation systems? Try the SBA. This $210,000 water supply and irrigation systems loan was issued by a West Virginia bank.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Freedom Bank, Inc., out of Bridgeport, West Virginia. The loan was granted and they received $210,000 to help grow their Farmington, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: WATER SUPPLY AND IRRIGATION SYSTEMS
FARMINGTON, WV 26571

SBA Loan Lender

FREEDOM BANK, INC.
625 W MAIN ST
BRIDGEPORT, WV 26330

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

221310 - Water Supply and Irrigation Systems

Loan Approval Date

5/2/2006

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $105,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Freedom Bank, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Freedom 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:

Realistic Debt Financing Options

Small Business Banks in Bridgeport, West Virginia

SBA Lenders in West Virginia