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May 17, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Ripley, Business Loans > Traders Bank Ripley Business Loans > Sawmills And Planing Mills, General Loan | ||||
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Traders Bank
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Ripley, West Virginia Business Gets SBA-Guaranteed Funding from Traders BankTraders 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 business knew how to go about getting a business bank loan. Based in Ripley, West Virginia, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Traders Bank, based in Ripley, West Virginia. SBA Loan Borrower COMPANY TYPE: SAWMILLS AND PLANING MILLS, GENERAL SBA Loan Lender TRADERS BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2421 - Sawmills and Planing Mills, General Loan Approval Date 7/14/2000 Loan Approval Gross Amount $91,500 Loan Approval from the SBA Of the total $91,500 loan amount, the SBA guaranteed $73,200. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Banks in Ripley, West Virginia Getting an SBA Loan in West Virginia
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