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November 15, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Barboursville, Business Loans > The First State Bank Barboursville Business Loans > Full-Service Restaurants Loan | ||||
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The First State Bank
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The First State Bank SBA Loan to Full-Service Restaurants CompanyThe First State 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. This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with The First State Bank, out of Barboursville, West Virginia. The loan was granted and they received $25,000 to help grow their Huntington, West Virginia business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender THE FIRST STATE BANK The lender provided this debt financing 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 722110 - Full-Service Restaurants Loan Approval Date 2/14/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 indicated that the loan would help retain 7 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $25,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Banks in Barboursville, West Virginia
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