Borrowing Money for Mining Machinery and Equipment Manufacturing

Looking for small business loans for mining machinery and equipment manufacturing? An SBA loan may be just what you've been looking for. This $300,000 mining machinery and equipment manufacturing loan was issued by a West Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Morgantown, West Virginia was able to borrow $300,000 from Mvb Bank, Inc.. The SBA made the loan possible by guaranteeing $225,000 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: MINING MACHINERY AND EQUIPMENT
MORGANTOWN, WV 26501

SBA Loan Lender

MVB BANK, INC.
301 VIRGINIA AVE
FAIRMONT, WV 26554

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3532 - Mining Machinery and Equipment

NAICS Code

333131 - Mining Machinery and Equipment Manufacturing

Loan Approval Date

4/5/2004

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 52 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $300,000. How would you spend $300,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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