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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Carpentersville, Business Loans > First American Bank Carpentersville Business Loans > Logging Loan | ||||
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Albany, Ohio Bank Loan
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Local Business Gets an Ohio Business LoanOhioBusiness loans are available to Ohio business owners through the SBA. In this case, an Illinois bank provides the loan. By giving the right information to First American Bank, this Albany, Ohio business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: LOGGING SBA Loan Lender FIRST AMERICAN BANK This SBA 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 113310 - Logging Loan Approval Date 12/29/2003 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $900,000. 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 18 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start business in Albany OH, you ought to talk with a local Albany SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Albany businesses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First American Bank and they will explain how you can get an SBA loan for your company. 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: SBA Approved Banks in Carpentersville, Illinois
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