Used Merchandise Stores Bank Loans

With these bank loans for used merchandise stores, the SBA guarantees the lender that the loan will be repaid. This used merchandise stores loan for $147,465 was given to an Ohio entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Beaverdam, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Superior Fcu, based in Lima, Ohio.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
BEAVERDAM, OH 45808

SBA Loan Lender

SUPERIOR FCU
1205 E KIBBY ST
LIMA, OH 45804

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

6/13/2007

Loan Approval Gross Amount

$147,465

Loan Approval from the SBA

Of the total $147,465 loan amount, the SBA guaranteed $125,345.

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 3 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 3 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Superior Fcu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Direct Public Offerings

Best Lima, Ohio Banks for Small Business

Ohio SBA 7A Lenders