West Virginia Business Loan Issued to Eating Places Company

Looking to get a West Virginia small business loan? This West Virginia entrepreneur got a small business loan, provided by a West Virginia bank that works with the SBA to help small business owners.

This business, based in Shrewsbury, West Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from City National Bank - W. Virginia. We've got the inside scoop on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SHREWSBURY, WV 25015

SBA Loan Lender

CITY NATIONAL BANK - W. VIRGINIA
3601 MACCORKLE AVE SE
CHARLESTON, WV 25304

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/20/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 7 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from City National Bank - W. Virginia 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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