Parma, Ohio Bank Gives SBA Loan to Welding And Soldering Equipment Manufacturing Company

Get to know Parma, Ohio banks that specialize in small business loans and know how to work with entrepreneurs. American National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Brook Park, Ohio starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from American National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WELDING AND SOLDERING EQUIPMENT MANUFACTURING
BROOK PARK, OH 44142

SBA Loan Lender

AMERICAN NATIONAL BANK
5603 RIDGE RD
PARMA, OH 44129

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333992 - Welding and Soldering Equipment Manufacturing

Loan Approval Date

7/12/2004

Loan Approval Gross Amount

$625,000

Loan Approval from the SBA

Of the total $625,000 loan amount, the SBA guaranteed $468,750.

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 2 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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