SBA Loan from West Union Bank Helps Heavy And Civil Engineering Construction Company

West Union Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one West Virginia entrepreneur who tapped into the power of SBA loans.

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

SBA Loan Borrower

COMPANY TYPE: HEAVY AND CIVIL ENGINEERING CONSTRUCTION
MT. CLARE, WV 26408

SBA Loan Lender

WEST UNION BANK
105 E MAIN ST
WEST UNION, WV 26456

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

237990 - Heavy and Civil Engineering Construction

Loan Approval Date

3/6/2006

Loan Approval Gross Amount

$16,200

Loan Approval from the SBA

Of the total $16,200 loan amount, the SBA guaranteed $13,770.

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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. West Union Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, West Union Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

How Much Venture Capital Is There?

SBA 7A Banks in West Union, West Virginia

Getting an SBA Loan in West Virginia