SBA Loans for Rubber Product Manufacturing for Mechanical Use

With these SBA loans for rubber product manufacturing for mechanical use, the SBA guarantees the lender that the loan will be repaid. This rubber product manufacturing for mechanical use loan for $1,750,000 was given to an Ohio entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Austinburg, Ohio was able to borrow $1,750,000 from United Midwest Savings Bank. The SBA made the loan possible by guaranteeing $1,312,500 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: RUBBER PRODUCT MANUFACTURING FOR MECHANICAL USE
AUSTINBURG, OH 44040

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

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

326291 - Rubber Product Manufacturing for Mechanical Use

Loan Approval Date

9/5/2006

Loan Approval Gross Amount

$1,750,000

Loan Approval from the SBA

Of the total $1,750,000 loan amount, the SBA guaranteed $1,312,500.

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 197 employees. The SBA loan documents indicated that the loan would help retain 197 existing jobs.

Next Steps for Getting an SBA Loan

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.

This SBA loan was for $1,750,000. How would you spend $1,750,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in De Graff, Ohio

Ohio SBA 7A Lenders