Bank Loans for Lawyers

Looking for bank loans for lawyers? Talk to a banker who works with the SBA. This $30,000 lawyers loan was issued by a West Virginia bank.

Getting a small business loan in Parkersburg, West Virginia was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from United Bank, operating out of Parkersburg, West Virginia. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: LEGAL SERVICES
PARKERSBURG, WV 26101

SBA Loan Lender

UNITED BANK
514 MARKET ST
PARKERSBURG, WV 26101

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8111 - Legal Services

NAICS Code

541110 - Lawyers

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like United 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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