Where to Get Capital for Store Retailers

With these small business loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $95,000 was given to a West Virginia entrepreneur in 2003.

Getting a small business loan in Point Pleasant, West Virginia was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wesbanco Bank, Inc., operating out of Parkersburg, West Virginia. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
POINT PLEASANT, WV 25550

SBA Loan Lender

WESBANCO BANK, INC.
415 MARKET ST
PARKERSBURG, WV 26101

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

10/9/2003

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Wesbanco 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.

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