Legal Services Small Business Loans

With these small business loans for legal services, the SBA guarantees the lender that the loan will be repaid. This legal services loan for $50,000 was given to an Ohio entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Akron, Ohio was able to borrow $50,000 from Firstmerit Bank. The SBA made the loan possible by guaranteeing $25,000 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: LEGAL SERVICES
AKRON, OH 44313

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541199 - Legal Services

Loan Approval Date

6/30/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 27 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

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SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Akron or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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