Financing for Advertising Agencies

With these commercial loans for advertising agencies, the SBA guarantees the lender that the loan will be repaid. This advertising agencies loan for $253,500 was given to a West Virginia entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with The First State Bank, out of Barboursville, West Virginia. The loan was granted and they received $253,500 to help grow their Huntington, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: ADVERTISING AGENCIES
HUNTINGTON, WV 25701

SBA Loan Lender

THE FIRST STATE BANK
660 CENTRAL AVE
BARBOURSVILLE, WV 25504

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7311 - Advertising Agencies

NAICS Code

541810 - Advertising Agencies

Loan Approval Date

7/27/2004

Loan Approval Gross Amount

$253,500

Loan Approval from the SBA

Of the total $253,500 loan amount, the SBA guaranteed $190,125.

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 6 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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

Small Business Banks in Barboursville, West Virginia

West Virginia SBA 7A Banks