Growing Company Gets a West Virginia Small Business Loan

Bank loans in West Virginia are tough to come by these days. We take a look at one West Virginia bank loan, provided by an Ohio bank, that was approved by the SBA.

Getting a small business loan in Weston, West Virginia was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
WESTON, WV 26452

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

446110 - Pharmacies and Drug Stores

Loan Approval Date

7/27/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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

Next Steps for Getting an SBA Loan

If you are raising money in Weston WV, you ought to talk with a local Weston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Weston businesses.

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 The Huntington National Bank 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:

Small Business Loan

SBA Banks in Columbus, Ohio

Ohio SBA Banks