Business Loan from Home Savings & Loan Co - Youn Given to Fabricated Metal Product Manufacturing Company

Home Savings & Loan Co - Youn has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Akron, Ohio, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Home Savings & Loan Co - Youn, based in Youngstown, Ohio.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCT MANUFACTURING
AKRON, OH 44310

SBA Loan Lender

HOME SAVINGS & LOAN CO - YOUN
275 FEDERAL PLAZA WEST
YOUNGSTOWN, OH 44503

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

5/25/2007

Loan Approval Gross Amount

$1,900,000

Loan Approval from the SBA

Of the total $1,900,000 loan amount, the SBA guaranteed $1,425,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 29 employees. The loan application indicated that the loan would help retain 29 existing jobs.

Getting an SBA Loan For Your Business

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Home Savings & Loan Co - Youn 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.

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