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May 12, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Weston, Business Loans > The Citizens Bank Of Weston Weston Business Loans > Osteopathic Physician Doctor Offices And Clinics Loan | ||||
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SBA Lenders in West Virginia
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Business Loan from The Citizens Bank Of Weston Given to Osteopathic Physician Doctor Offices And Clinics CompanyThe Citizens Bank Of Weston 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jane Lew, West Virginia was able to borrow $615,000 from The Citizens Bank Of Weston. The SBA made the loan possible by guaranteeing $461,250 of this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: OSTEOPATHIC PHYSICIAN DOCTOR OFFICES AND CLINICS SBA Loan Lender THE CITIZENS BANK OF WESTON The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide small business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8031 - Osteopathic Physician Doctor Offices and Clinics Loan Approval Date 4/28/2000 Loan Approval Gross Amount $615,000 Loan Approval from the SBA Of the total $615,000 loan amount, the SBA guaranteed $461,250. 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 6 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Borrowing Money from Friends and Family Who Lends Money to Small Businesses in Weston, West Virginia
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