Business Loan from United Bank Given to Publishing Company
United Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one West Virginia entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Parkersburg, West Virginia was an essential business goal for this company back in 2000 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: PUBLISHING
PARKERSBURG, WV 26101
SBA Loan Lender
UNITED BANK
514 MARKET ST
PARKERSBURG, WV 26101
This lender issued this particular SBA loan 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
2741 - Publishing
Loan Approval Date
6/13/2000
Loan Approval Gross Amount
$16,000
Loan Approval from the SBA
Of the total $16,000 loan amount, the SBA guaranteed $12,800.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
While you may be able to find business people willing to loan money, 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:
Angel Investors
SBA Participating Banks in Parkersburg, West Virginia
West Virginia SBA 7A Banks