Montgomery, West Virginia Entrepreneur Gets a Bank Loan

Want a West Virginia SBA loan? This West Virginia entrepreneur got an SBA loan, provided by a West Virginia bank that works with the SBA to help small business owners.

This small business, based in Montgomery, 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: DIE-CUT PAPER AND PAPERBOARD AND CARDBOARD
MONTGOMERY, WV 25136

SBA Loan Lender

CITY NATIONAL BANK - W. VIRGINIA
3601 MACCORKLE AVE SE
CHARLESTON, WV 25304

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2675 - Die-Cut Paper and Paperboard and Cardboard

NAICS Code

322231 - Die-Cut Paper and Paperboard Office Supplies Manufacturing

Loan Approval Date

4/26/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. City National Bank - W. Virginia had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, City National Bank - W. Virginia made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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