December 1, 2016
Victory of West Virginia, Inc., a mining design/build contractor based in Fairmont, has serviced the mining industry for more than 65 years. In 2006, when the former owner put the business up for sale, a local entrepreneur called on FHLBank Pittsburgh member MVB Bank for help in acquiring the business. Victory met the definition of a small business and qualified for a $1.3 million one-year, low-cost loan from FHLBank’s Community Lending Program (CLP). CLP funding, along with additional financing from MVB Bank, helped the buyer meet his total purchasing costs, keeping jobs in Marion County.