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May 18, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Romney, Business Loans > Fnb Bank, Inc. Romney Business Loans > Plumbing, Heating, And Air-Conditioning Loan | ||||
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Purgitsville SBA Loans
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Firm Gets a West Virginia Business LoanWest VirginiaSmall business loans are available to West Virginia small business owners through the SBA. In this case, a West Virginia bank provides the loan. This business, based in Purgitsville, West Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Fnb Bank, Inc.. We've got the inside scoop on this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING SBA Loan Lender FNB BANK, INC. The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1711 - Plumbing, Heating, and Air-Conditioning NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 3/24/2004 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 30 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fnb Bank, Inc. and they will explain how you can get an SBA loan for your company. 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: Banks in Romney, West Virginia
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