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November 22, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Dublin, Business Loans > The Citizens Banking Company Dublin Business Loans > Sporting And Athletic Goods Manufacturing Loan | ||||
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Akron, Ohio Bank for SBA Loans
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Sporting and Athletic Goods Manufacturing Business LoansWith these business loans for sporting and athletic goods manufacturing, the SBA guarantees the lender that the loan will be repaid. This sporting and athletic goods manufacturing loan for $312,000 was given to an Ohio entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Akron, Ohio was able to borrow $312,000 from The Citizens Banking Company. The SBA made the loan possible by guaranteeing $234,000 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING AND ATHLETIC GOODS MANUFACTURING SBA Loan Lender THE CITIZENS BANKING COMPANY This bank 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 339920 - Sporting and Athletic Goods Manufacturing Loan Approval Date 5/7/2007 Loan Approval Gross Amount $312,000 Loan Approval from the SBA Of the total $312,000 loan amount, the SBA guaranteed $234,000. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Banking Deregulation's Effects on Entrepreneurship SBA Approved Banks in Dublin, Ohio
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