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.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Fnb Bank, Inc., out of Romney, West Virginia. The loan was granted and they received $100,000 to help grow their Petersburg, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: ON-LINE INFORMATION SERVICES
PETERSBURG, WV 26847

SBA Loan Lender

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

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.

NAICS Code

514191 - On-Line Information Services

Loan Approval Date

9/19/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 17 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

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

If you need money to start business in Petersburg WV, you ought to talk with a local Petersburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Petersburg businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Fnb Bank, Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

The Art of Bootstrapping

Good Banks for Small Business in Romney, West Virginia

SBA Lenders in West Virginia