How to Get a Loan for Activities Related to Credit Intermediation

Looking for commercial loans for activities related to credit intermediation? An SBA loan may be just what you've been looking for. This $30,000 activities related to credit intermediation loan was issued by an Ohio bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Firstmerit Bank, out of Akron, Ohio. The loan was granted and they received $30,000 to help grow their Akron, Ohio business.

SBA Loan Borrower

COMPANY TYPE: FUNCTIONS RELATED TO DEPOSITOR BANKING, N.E.C
AKRON, OH 44320

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6099 - Functions Related to Depositor Banking, N.E.C

NAICS Code

522390 - Activities Related to Credit Intermediation

Loan Approval Date

11/19/2001

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 8 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Firstmerit Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Line of Credit

SBA Participating Banks in Akron, Ohio

Ohio SBA 7A Banks