Getting an SBA Loan for Continuing Care Retirement Communities

Looking for business loans for continuing care retirement communities? An SBA loan may be just what you've been looking for. This $275,000 continuing care retirement communities loan was issued by a West Virginia bank.

Getting a small business loan in Kenova, West Virginia was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from United Bank, operating out of Huntington, West Virginia. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: SKILLED NURSING CARE FACILITIES
KENOVA, WV 25530

SBA Loan Lender

UNITED BANK
2889 3RD AVE
HUNTINGTON, WV 25702

This business 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

8051 - Skilled Nursing Care Facilities

NAICS Code

623311 - Continuing Care Retirement Communities

Loan Approval Date

12/10/2002

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

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 documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

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Small Bank Loans in Huntington, West Virginia

SBA West Virginia Lenders