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November 15, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Walton, Business Loans > The Poca Valley Bank, Inc. Walton Business Loans > Logging Loan | ||||
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The Poca Valley Bank, Inc. SBA Loans
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The Poca Valley Bank, Inc. SBA Loan to Logging CompanyThe Poca Valley Bank, Inc. and the SBA work together to get business loans for growing small businesses. Here's an example of how a West Virginia entrepreneur was able to get a loan to take a small business to the next level. This small firm knew how to go about getting a business bank loan. Based in Red House, West Virginia, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was The Poca Valley Bank, Inc., based in Walton, West Virginia. SBA Loan Borrower COMPANY TYPE: LOGGING SBA Loan Lender THE POCA VALLEY BANK, INC. This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2411 - Logging NAICS Code 113310 - Logging Loan Approval Date 3/15/2001 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Obtaining Funding - Friends and Family Who Lends Money to Small Businesses in Walton, West Virginia
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