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December 21, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Dunbar, Business Loans > United Bank Dunbar Business Loans > Offices And Clinics Of Doctors Of Medicine Loan | ||||
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WV Business Loans from United Bank
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Logan, West Virginia Business Gets SBA-Guaranteed Funding from United BankUnited Bank has a track record as a leading provider of SBA loans. Find out how this West Virginia entrepreneur received an SBA loan from them. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with United Bank, out of Dunbar, West Virginia. The loan was granted and they received $225,000 to help grow their Logan, West Virginia business. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE SBA Loan Lender UNITED BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8011 - Offices and Clinics of Doctors of Medicine NAICS Code 621111 - Physicians Loan Approval Date 5/24/2005 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. 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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Determining Proper Capital Structure for a Business Best Dunbar, West Virginia Banks for Small Business SBA Participating Banks in West Virginia
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