Firstmerit Bank Gives Small Business Loan to Nondepository Credit Intermediation Company

Want an Ohio business loan? This Ohio entrepreneur got a business loan, provided by an Ohio bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Akron, Ohio by studying this loan to a local business, made back in 2002. Banks like Firstmerit Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDEPOSITORY CREDIT INTERMEDIATION
AKRON, OH 44320

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

522298 - Nondepository Credit Intermediation

Loan Approval Date

8/6/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $52,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in Akron OH, you ought to talk with a local Akron SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Akron businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Firstmerit Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Getting a Small Business Loan

SBA 7A Lenders in Akron, Ohio

Getting an SBA Loan in Ohio