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May 12, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Wheeling, Business Loans > Wesbanco Bank, Inc. Wheeling Business Loans > Top And Body Repair And Paint Shops Loan | ||||
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Advice for Entrepreneurs On Getting a Loan
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Automotive Body, Paint, and Interior Repair and Maintenance Commercial LoansWith these commercial loans for automotive body, paint, and interior repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive body, paint, and interior repair and maintenance loan for $38,186 was given to a West Virginia entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Triadelphia, West Virginia was able to borrow $38,186 from Wesbanco Bank, Inc.. The SBA made the loan possible by guaranteeing $32,458 of this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS SBA Loan Lender WESBANCO BANK, INC. This lender issued this particular SBA small business loan 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 7532 - Top and Body Repair and Paint Shops NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 6/25/2003 Loan Approval Gross Amount $38,186 Loan Approval from the SBA Of the total $38,186 loan amount, the SBA guaranteed $32,458. More Information on This SBA Loan The borrower borrowed this money for an existing 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 3 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wesbanco Bank, Inc. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - How to Decide How Much to Raise Best Banks for Small Business in Wheeling, West Virginia
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