Fabric Coating Mills Small Business Loans

Looking for small business loans for fabric coating mills? Talk to a banker who works with the SBA. This $80,000 fabric coating mills loan was issued by a West Virginia bank.

Getting a small business loan in Bluefield, West Virginia was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Commun Bank, operating out of Bluefield, West Virginia. Here are the details on this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED RUBBER PRODUCTS, N.E.C
BLUEFIELD, WV 24701

SBA Loan Lender

FIRST COMMUN BANK
211 FEDERAL ST
BLUEFIELD, WV 24701

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3069 - Fabricated Rubber Products, N.E.C

NAICS Code

313320 - Fabric Coating Mills

Loan Approval Date

4/24/2001

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 5 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Commun Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

A Company That Helps Entrepreneurs

SBA Participating Banks in Bluefield, West Virginia

West Virginia SBA Bank Lenders