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June 2, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Barboursville, Business Loans > The First State Bank Barboursville Business Loans > Nonupholstered Wood Household Furniture Manufacturing Loan | ||||
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The First State Bank SBA Loan Huntington, WV
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The First State Bank SBA Loan to Nonupholstered Wood Household Furniture Manufacturing CompanyThe First State Bank has a track record as a leading provider of SBA loans. Find out how this West Virginia entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Huntington, West Virginia, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was The First State Bank, based in Barboursville, West Virginia. SBA Loan Borrower COMPANY TYPE: NONUPHOLSTERED WOOD HOUSEHOLD FURNITURE MANUFACTURING SBA Loan Lender THE FIRST STATE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 337122 - Nonupholstered Wood Household Furniture Manufacturing Loan Approval Date 10/5/2004 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. 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 24 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The First State Bank 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: Accountant's Role in Securing Financing Small Bank Loans in Barboursville, West Virginia
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