Business Loan from The Croghan Colonial Bank Given to Wrecking And Demolition Contractors Company

An SBA loan from The Croghan Colonial Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bellevue, Ohio business owner got a $887,587 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bellevue, Ohio was able to borrow $887,587 from The Croghan Colonial Bank. The SBA made the loan possible by guaranteeing $665,690 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: WRECKING AND DEMOLITION CONTRACTORS
BELLEVUE, OH 44811

SBA Loan Lender

THE CROGHAN COLONIAL BANK
323 CROGHAN ST
FREMONT, OH 43420

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

235940 - Wrecking and Demolition Contractors

Loan Approval Date

5/2/2003

Loan Approval Gross Amount

$887,587

Loan Approval from the SBA

Of the total $887,587 loan amount, the SBA guaranteed $665,690.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Croghan Colonial Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Borrowing Money from Friends and Family

SBA Participating Banks in Fremont, Ohio

Ohio SBA 7A Banks