Beachwood, Ohio Business Gets SBA-Guaranteed Funding from The Huntington National Bank

The Huntington National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Beachwood, Ohio, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was The Huntington National Bank, based in Salineville, Ohio.

SBA Loan Borrower

COMPANY TYPE: FURNITURE MERCHANT WHOLESALERS
Beachwood, OH 44122

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
10 E MAIN ST
SALINEVILLE, OH 43945

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423210 - Furniture Merchant Wholesalers

Loan Approval Date

3/6/2006

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Beachwood OH, you ought to talk with a local Beachwood SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Beachwood businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Huntington National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Credit Evaluation

SBA Banks in Salineville, Ohio

Ohio SBA Banks