Commercial Loans for Musical Instrument Manufacturing

With these commercial loans for musical instrument manufacturing, the SBA guarantees the lender that the loan will be repaid. This musical instrument manufacturing loan for $320,000 was given to an Ohio entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Akron, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was American National Bank, based in Parma, Ohio.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT MANUFACTURING
AKRON, OH 44314

SBA Loan Lender

AMERICAN NATIONAL BANK
5603 RIDGE RD
PARMA, OH 44129

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339992 - Musical Instrument Manufacturing

Loan Approval Date

11/1/2000

Loan Approval Gross Amount

$320,000

Loan Approval from the SBA

Of the total $320,000 loan amount, the SBA guaranteed $240,000.

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 5 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American National Bank 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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