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December 22, 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 > Physicians Loan | ||||
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West Virginia Small Business Loans from The First State Bank
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SBA Loan from The First State Bank Helps Physicians CompanyAn SBA loan from The First State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Huntington, West Virginia business owner got a $100,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Huntington, West Virginia was able to borrow $100,000 from The First State Bank. The SBA made the loan possible by guaranteeing $50,000 of this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender THE FIRST STATE BANK The lender provided this commercial 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 621111 - Physicians Loan Approval Date 6/12/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 45 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The First State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Where to Get an SBA Loan in Barboursville, West Virginia
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