Freedom Bank, Inc. Gives Business Loan to Liquefied Petroleum Gas Dealers Company

SBA loans in West Virginia are hard to find these days. We take a look at one West Virginia SBA loan, provided by a West Virginia bank, that was approved by the SBA.

Getting a small business loan in Webster Springs, West Virginia was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Freedom Bank, Inc.. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: LIQUEFIED PETROLEUM GAS DEALERS
WEBSTER SPRINGS, WV 26288

SBA Loan Lender

FREEDOM BANK, INC.
315 CRIM AVE
BELINGTON, WV 26250

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454312 - Liquefied Petroleum Gas Dealers

Loan Approval Date

3/6/2006

Loan Approval Gross Amount

$1,670,000

Loan Approval from the SBA

Of the total $1,670,000 loan amount, the SBA guaranteed $1,252,500.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,670,000 loan. Remember, anyone can do it... so why not you?

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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