Petersburg, West Virginia Business Gets SBA-Guaranteed Funding from Fnb Bank, Inc.

Fnb Bank, Inc. 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 Petersburg, West Virginia was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Fnb Bank, Inc., operating out of Romney, West Virginia. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
PETERSBURG, WV 26847

SBA Loan Lender

FNB BANK, INC.
105 N HIGH ST
ROMNEY, WV 26757

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

11/7/2007

Loan Approval Gross Amount

$115,206

Loan Approval from the SBA

Of the total $115,206 loan amount, the SBA guaranteed $97,925.

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 indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fnb Bank, Inc. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Accountant's Role in Securing Financing

SBA Participating Banks in Romney, West Virginia

SBA Lenders in West Virginia