West Virginia Business Loans

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Matthew Gillman

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Financing for Companies in West Virginia

The great state of West Virginia is famous for its beautiful wildlife. Throughout its history the state has been known for its mining capability’s, but over time new industries have taken change. The West Virginia economy has struggled since the closing of major mining operations throughout the state. When the coal industry was thriving the state’s economy and local business owners were prosperous. In recent years technological innovations industries such as the energy, aerospace, chemical, and automotive industry have begun to move to the forefront of the local economy . SMB Compass provided small business loans in West Virginia to a wide array of industries and businesses.

Mining Loans in West Virginia

Although the mining industry has decreased over the last quarter century, West Virginia still contributes close to 10% of the country’s coal and natural gas. West Virginia small business loans and equipment financing allows businesses owners to purchase needed machinery and cover overhead. West Virginia is also reliant on its biotech industry, with leaders in the industry such as DuPont, PPG, and Dow calling West Virginia home. Although there are numerous large corporations in the state, small and medium size businesses are the heartbeat of the local state. Businesses use small business loans in West Virginia to cover expenses and purchase inventory.

Manufacturing Loans in West Virginia

While the mining industry has suffered, the aerospace and automotive industries have shown growth that helps the local economy. With an experienced work force and copiousness amounts of metal products, the aerospace industry has thrived throughout the state. The automotive industry has continued to succeed throughout the state, with major companies such as Toyota and Hino motors manufacturing in the state. With over 100 different chemical industries companies, West Virginia is reliant on chemical manufacturing to supply jobs and revenue to it economy. Close to a quarter of its international exports come from this industry alone and help to provide much need revenue for the state. SMB Compass provides small business loans in West Virginia to help these businesses operate efficiently.

Small Business Loans in West Virginia

Here are the many ways to use a small business loan in West Virginia

  • Acquire small business loans
  • Refinance existing loans and credit card debt
  • Purchase or refinance commercial real estate
  • Buy or lease machinery and equipment
  • Purchase inventory and raw materials
  • Improve cash flow
  • Marketing and advertising campaigns
  • Upgrade technology and business software
  • Renovate existing office space
  • Day-to-day operating expenses
  • Repair and maintenance

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