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

A Williamson, West Virginia small business loan can be yours. Learn how one firm got a $282,000 business loan from this West Virginia bank.

This loan to a local firm is a good example of an SBA loan. Branch Bank & Trust made the loan and the SBA guaranteed a portion of the loan. Many other West Virginia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
WILLIAMSON, WV 25661

SBA Loan Lender

BRANCH BANK & TRUST
250 E 2ND AVE
WILLIAMSON, WV 25661

This lender issued this SBA loan under the 7A SBA program, 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.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

8/14/2001

Loan Approval Gross Amount

$282,000

Loan Approval from the SBA

Of the total $282,000 loan amount, the SBA guaranteed $211,500.

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 9 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Branch Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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