SBA Loan from Freedom Bank, Inc. Helps Beauty Salons Company

An SBA loan from Freedom Bank, Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stonewood, West Virginia business owner got a $20,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Freedom Bank, Inc., out of Bridgeport, West Virginia. The loan was granted and they received $20,000 to help grow their Stonewood, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
STONEWOOD, WV 26301

SBA Loan Lender

FREEDOM BANK, INC.
625 W MAIN ST
BRIDGEPORT, WV 26330

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

3/24/2006

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Freedom Bank, Inc. and they will explain how you can get an SBA loan for your company.

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:

Business Incubators

SBA 7A Banks for Bridgeport, West Virginia Loans

West Virginia SBA 7A Lenders