Firstmerit Bank SBA Loan to Clothing Stores Company

Firstmerit Bank has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ashtabula, Ohio was able to borrow $36,100 from Firstmerit Bank. The SBA made the loan possible by guaranteeing $30,685 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
ASHTABULA, OH 44004

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

8/10/2006

Loan Approval Gross Amount

$36,100

Loan Approval from the SBA

Of the total $36,100 loan amount, the SBA guaranteed $30,685.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help create 2 new jobs.

Getting an SBA Loan For Your Business

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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