Borrowing Money for Postal Service

With these small business loans for postal service, the SBA guarantees the lender that the loan will be repaid. This postal service loan for $100,000 was given to a West Virginia entrepreneur in 2006.

Getting a small business loan in Princeton, West Virginia was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Commun Bank, operating out of Princeton, West Virginia. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: POSTAL SERVICE
PRINCETON, WV 24740

SBA Loan Lender

FIRST COMMUN BANK
ONE STAFFORD COMMONS
PRINCETON, WV 24740

This SBA bank 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

491110 - Postal Service

Loan Approval Date

10/12/2006

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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Commun Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Borrowing Money from Friends and Family

Small Business Banks in Princeton, West Virginia

SBA Participating Banks in West Virginia