The First State Bank Gives SBA Loan to Trucking Company

Business loans in West Virginia are hard to find these days. We take a look at one West Virginia business loan, provided by a West Virginia bank, that was approved by the SBA.

Getting a small business loan in Ona, West Virginia was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The First State Bank. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
ONA, WV 25545

SBA Loan Lender

THE FIRST STATE BANK
660 CENTRAL AVE
BARBOURSVILLE, WV 25504

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

10/17/2001

Loan Approval Gross Amount

$8,200

Loan Approval from the SBA

Of the total $8,200 loan amount, the SBA guaranteed $6,970.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The First State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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