SBA Loan from Mountain Valley Bank Helps Plastics Products Company

Mountain Valley Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a West Virginia entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Norton, West Virginia was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Mountain Valley Bank, operating out of Elkins, West Virginia. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCTS
NORTON, WV 26285

SBA Loan Lender

MOUNTAIN VALLEY BANK
317 DAVIS AVE
ELKINS, WV 26241

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

3089 - Plastics Products

NAICS Code

326122 - Plastics Pipe and Pipe Fitting Manufacturing

Loan Approval Date

12/26/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours 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.

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