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May 16, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Spencer, Business Loans > Traders Bank Spencer Business Loans > Eating Places Loan | ||||
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Grantsville, West Virginia Bank Loan
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Commercial Loans for Full-Service RestaurantsWith these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $135,000 was given to a West Virginia entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grantsville, West Virginia was able to borrow $135,000 from Traders Bank. The SBA made the loan possible by guaranteeing $114,750 of this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender TRADERS BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/24/2001 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 7 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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. Related Links: SBA Participating Banks in Spencer, West Virginia
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