Growing Company Gets an Ohio Bank Loan

Bank loans in Ohio are hard to find these days. We take a look at one Ohio bank loan, provided by an Ohio bank, that was approved by the SBA.

Getting a small business loan in Ashland, Ohio was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Farmers & Savings Bank A Divis. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
ASHLAND, OH 44805

SBA Loan Lender

FARMERS & SAVINGS BANK A DIVIS
120 N WATER ST
LOUDONVILLE, OH 44842

This 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

442110 - Furniture Stores

Loan Approval Date

10/12/2005

Loan Approval Gross Amount

$255,000

Loan Approval from the SBA

Of the total $255,000 loan amount, the SBA guaranteed $191,250.

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 12 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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Ohio SBA 7A Lenders