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December 22, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Toledo, Business Loans > The Huntington National Bank Toledo Business Loans > Photographic Studios, Portrait Loan | ||||
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Business Loans for Bowling Green Entrepreneurs
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Photography Studios, Portrait Commercial LoansLooking for commercial loans for photography studios, portrait? An SBA loan may be just what you've been looking for. This $53,000 photography studios, portrait loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bowling Green, Ohio was able to borrow $53,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $42,400 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHIC STUDIOS, PORTRAIT SBA Loan Lender THE HUNTINGTON NATIONAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7221 - Photographic Studios, Portrait NAICS Code 541921 - Photography Studios, Portrait Loan Approval Date 10/11/2000 Loan Approval Gross Amount $53,000 Loan Approval from the SBA Of the total $53,000 loan amount, the SBA guaranteed $42,400. 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 only one employee. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 The Huntington National Bank 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:
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