West Virginia Small Business Loan Issued to Schools And Educational Services Company

Bank loans in West Virginia are tough to come by these days. We take a look at one West Virginia bank loan, provided by a West Virginia bank, that was approved by the SBA.

This company, based in Lewisburg, West Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from City National Bank - W. Virginia. We've got the inside scoop on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND EDUCATIONAL SERVICES
LEWISBURG, WV 24901

SBA Loan Lender

CITY NATIONAL BANK - W. VIRGINIA
109 S JEFFERSON ST
LEWISBURG, WV 24901

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8299 - Schools and Educational Services

Loan Approval Date

6/19/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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