Commercial Loans for Industrial Machinery and Equipment Wholesalers

With these commercial loans for industrial machinery and equipment wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial machinery and equipment wholesalers loan for $119,700 was given to a West Virginia entrepreneur in 2002.

Getting a small business loan in Williamstown, West Virginia was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bancorpsouth Bank, operating out of Springfield, Missouri. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT
WILLIAMSTOWN, WV 26187

SBA Loan Lender

BANCORPSOUTH BANK
4039 S KANSAS EXPRESSWAY
SPRINGFIELD, MO 65807

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5084 - Industrial Machinery and Equipment

NAICS Code

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

5/28/2002

Loan Approval Gross Amount

$119,700

Loan Approval from the SBA

Of the total $119,700 loan amount, the SBA guaranteed $101,745.

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. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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Best Banks in Springfield, Missouri

Missouri SBA Bank Lenders