Business Loan from First Exchange Bank Given to Electrical Contractors And Wiring Installation Contractors Company

An SBA loan from First Exchange Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fairmont, West Virginia business owner got a $87,500 loan.

This growing company knew how to go about getting a business bank loan. Based in Fairmont, West Virginia, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was First Exchange Bank, based in Fairmont, West Virginia.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
FAIRMONT, WV 26554

SBA Loan Lender

FIRST EXCHANGE BANK
216 FAIRMONT AVE
FAIRMONT, WV 26554

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

10/3/2006

Loan Approval Gross Amount

$87,500

Loan Approval from the SBA

Of the total $87,500 loan amount, the SBA guaranteed $74,375.

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $87,500 loan. Remember, anyone can do it... so why not 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.

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