Entrepreneur Works With Wheeling, West Virginia Bank to Get an SBA Loan

Get to know Wheeling, West Virginia banks that specialize in business loans and know how to work with entrepreneurs. Main Street Bank Corp. is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Wheeling, West Virginia starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Main Street Bank Corp.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
WHEELING, WV 26003

SBA Loan Lender

MAIN STREET BANK CORP.
2001 MAIN ST, STE 100
WHEELING, WV 26003

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

1/7/2003

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 3 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Wheeling WV, you ought to talk with a local Wheeling SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wheeling businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Main Street Bank Corp. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Main Street Bank Corp. 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.

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