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June 1, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Charleston, Business Loans > Wesbanco Bank, Inc. Charleston Business Loans > Bituminous Coal And Lignite Surface Mining Loan | ||||
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Who Lends Money to Charleston Small Businesses
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Charleston, West Virginia Entrepreneur Gets a Business LoanWould a West Virginia SBA loan help your business get to the next level? If so, you may want to talk with this West Virginia bank, which offers SBA loans to West Virginia entrepreneurs. By giving the right information to Wesbanco Bank, Inc., this Charleston, West Virginia business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: BITUMINOUS COAL AND LIGNITE SURFACE MINING SBA Loan Lender WESBANCO BANK, INC. The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1221 - Bituminous Coal and Lignite Surface Mining NAICS Code 212111 - Bituminous Coal and Lignite Surface Mining Loan Approval Date 12/19/2001 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 20 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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: Best Banks for Small Business in Charleston, West Virginia
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