The Lorain National Bank SBA Loan to Roofing Contractors Company

An SBA loan from The Lorain National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Avon Lake, Ohio business owner got a $545,000 loan.

This business knew how to go about getting a business bank loan. Based in Avon Lake, Ohio, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was The Lorain National Bank, based in Lorain, Ohio.

SBA Loan Borrower

COMPANY TYPE: ROOFING CONTRACTORS
AVON LAKE, OH 44012

SBA Loan Lender

THE LORAIN NATIONAL BANK
457 BROADWAY
LORAIN, OH 44052

This SBA loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238160 - Roofing Contractors

Loan Approval Date

4/15/2003

Loan Approval Gross Amount

$545,000

Loan Approval from the SBA

Of the total $545,000 loan amount, the SBA guaranteed $408,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 60 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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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