Business Loans for Manufacturing

With these business loans for manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufacturing loan for $2,000,000 was given to a West Virginia entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Williamstown, West Virginia was able to borrow $2,000,000 from United Bank. The SBA made the loan possible by guaranteeing $1,500,000 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING
WILLIAMSTOWN, WV 26187

SBA Loan Lender

UNITED BANK
514 MARKET ST
PARKERSBURG, WV 26101

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and a deep knowledge SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339999 - Manufacturing

Loan Approval Date

10/20/2006

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 300 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like United Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for 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.

Related Links:

Microlending as a Small Business Funding Source

Best Banks for Small Business in Parkersburg, West Virginia

SBA Lenders in West Virginia