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May 15, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Parkersburg, Business Loans > First Neighborhood Bank, Inc. Parkersburg Business Loans > Tire Dealers Loan | ||||
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First Neighborhood Bank, Inc. Small Business Loans
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First Neighborhood Bank, Inc. SBA Loan to Tire Dealers CompanyFirst Neighborhood Bank, Inc. and the SBA work together to get business loans for growing small businesses. Here's an example of how a West Virginia entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Neighborhood Bank, Inc., out of Parkersburg, West Virginia. The loan was granted and they received $67,500 to help grow their Vienna, West Virginia business. SBA Loan Borrower COMPANY TYPE: TIRE DEALERS SBA Loan Lender FIRST NEIGHBORHOOD BANK, INC. This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441320 - Tire Dealers Loan Approval Date 11/1/2004 Loan Approval Gross Amount $67,500 Loan Approval from the SBA Of the total $67,500 loan amount, the SBA guaranteed $57,375. 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 only one employee. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $67,500. How would you spend $67,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 7A Banks for Parkersburg, West Virginia Loans Getting an SBA Loan in West Virginia
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