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November 15, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Parkersburg, Business Loans > First Neighborhood Bank, Inc. Parkersburg Business Loans > Plumbing, Heating, And Air Conditioning Contractors Loan | ||||
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West Virginia SBA Loans from First Neighborhood Bank, Inc.
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SBA Loan from First Neighborhood Bank, Inc. Helps Plumbing, Heating, And Air Conditioning Contractors CompanyFirst Neighborhood 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Washington, West Virginia was able to borrow $68,000 from First Neighborhood Bank, Inc.. The SBA made the loan possible by guaranteeing $57,800 of this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS SBA Loan Lender FIRST NEIGHBORHOOD BANK, INC. This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 3/17/2003 Loan Approval Gross Amount $68,000 Loan Approval from the SBA Of the total $68,000 loan amount, the SBA guaranteed $57,800. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Neighborhood Bank, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Neighborhood Bank, Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA 7A Banks in Parkersburg, West Virginia
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