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May 10, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Charleston, Business Loans > Branch Bank & Trust Charleston Business Loans > Barber Shops Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Raising Money for Barber ShopsLooking for bank loans for barber shops? An SBA loan may be just what you've been looking for. This $40,000 barber shops loan was issued by a West Virginia bank. Getting a small business loan in Montgomery, West Virginia was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Branch Bank & Trust, operating out of Charleston, West Virginia. Here are the details on this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: BARBER SHOPS SBA Loan Lender BRANCH BANK & TRUST This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7241 - Barber Shops NAICS Code 812111 - Barber Shops Loan Approval Date 10/5/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: A Company That Helps Entrepreneurs Good Banks for Small Business in Charleston, West Virginia Where to Get an SBA Loan West Virginia
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