Financing for Optometrists

With these commercial loans for optometrists, the SBA guarantees the lender that the loan will be repaid. This optometrists loan for $75,000 was given to a West Virginia entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Parkersburg, West Virginia, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Community Bank Of Parkersburg, based in Parkersburg, West Virginia.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF OPTOMETRISTS
PARKERSBURG, WV 26101

SBA Loan Lender

COMMUNITY BANK OF PARKERSBURG
631 JULIANA ST
PARKERSBURG, WV 26101

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8042 - Offices and Clinics of Optometrists

NAICS Code

621320 - Optometrists

Loan Approval Date

1/9/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Bank Of Parkersburg that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Angel Investors

Small Bank Loans in Parkersburg, West Virginia

SBA Participating Banks in West Virginia