The Huntington National Bank SBA Loan to Hardwood Dimension And Flooring Mills Company

Searching for a West Virginia business loan? Here's one West Virginia business loan that was approved by the SBA.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with The Huntington National Bank, out of Clarksburg, West Virginia. The loan was granted and they received $350,000 to help grow their Philippi, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: HARDWOOD DIMENSION AND FLOORING MILLS
PHILIPPI, WV 26416

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
230 W PIKE ST
CLARKSBURG, WV 26301

This SBA 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.

SIC Code

2426 - Hardwood Dimension and Flooring Mills

Loan Approval Date

9/29/2000

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $315,000.

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 36 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Huntington National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Huntington National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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