Borrowing Money for Metal Coating, Engraving and Allied Services

Looking for bank loans for metal coating, engraving and allied services? The SBA may be the answer. This $550,000 metal coating, engraving and allied services loan was issued by a West Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mullens, West Virginia was able to borrow $550,000 from Mcnb Bank And Trust Company. The SBA made the loan possible by guaranteeing $412,500 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTROPLATING, PLATING, POLISHING AND ANODIZING
MULLENS, WV 25882

SBA Loan Lender

MCNB BANK AND TRUST COMPANY
75 WYOMING ST
WELCH, WV 24801

This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3471 - Electroplating, Plating, Polishing and Anodizing

NAICS Code

332812 - Metal Coating, Engraving and Allied Services

Loan Approval Date

9/12/2001

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. This SBA loan request did not indicate that the small business 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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Raising Venture Capital

SBA 7A Banks in Welch, West Virginia

Getting a Business Loan in West Virginia