Parsons, West Virginia Business Gets SBA-Guaranteed Funding from Citizens National Bank - Elkins

Citizens National Bank - Elkins has a track record as a leading provider of SBA loans. Find out how this West Virginia entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Parsons, West Virginia was able to borrow $62,954 from Citizens National Bank - Elkins. The SBA made the loan possible by guaranteeing $50,363 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PARSONS, WV 26287

SBA Loan Lender

CITIZENS NATIONAL BANK - ELKINS
226 WALNUT ST
PARSONS, WV 26287

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

5812 - Eating Places

Loan Approval Date

1/21/2000

Loan Approval Gross Amount

$62,954

Loan Approval from the SBA

Of the total $62,954 loan amount, the SBA guaranteed $50,363.

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 6 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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