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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Lorain, Business Loans > The Lorain National Bank Lorain Business Loans > Home Furnishings Stores Loan | ||||
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We Needed a Small Business Loan in Avon, Ohio and We Got One!
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Where to Get Capital for Home Furnishings StoresWith these SBA loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $250,000 was given to an Ohio entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Avon, Ohio was able to borrow $250,000 from The Lorain National Bank. The SBA made the loan possible by guaranteeing $125,000 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: HOME FURNISHINGS STORES SBA Loan Lender THE LORAIN NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 4/20/2005 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Lorain, Ohio
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