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November 15, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Romney, Business Loans > The Bank Of Romney Romney Business Loans > Snack And Nonalcoholic Beverage Bars Loan | ||||
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SBA Lenders in West Virginia
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Bank Loans for Snack and Nonalcoholic Beverage BarsWith these bank loans for snack and nonalcoholic beverage bars, the SBA guarantees the lender that the loan will be repaid. This snack and nonalcoholic beverage bars loan for $40,000 was given to a West Virginia entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Romney, West Virginia was able to borrow $40,000 from The Bank Of Romney. The SBA made the loan possible by guaranteeing $34,000 of this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS SBA Loan Lender THE BANK OF ROMNEY This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 9/13/2004 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. 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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Romney WV, you ought to talk with a local Romney SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Romney businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Bank Of Romney and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Small Business Banks in Romney, West Virginia
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