Get an SBA Loan for Rubber Product Manufacturing for Mechanical Use

Looking for small business loans for rubber product manufacturing for mechanical use? An SBA loan may be just what you've been looking for. This $137,000 rubber product manufacturing for mechanical use loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Canal Fulton, Ohio was able to borrow $137,000 from Firstmerit Bank. The SBA made the loan possible by guaranteeing $116,450 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: MOLDED, EXTRUDED, AND LATHE-CUT MECHANICAL RUBBER
CANAL FULTON, OH 44614

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

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

3061 - Molded, Extruded, and Lathe-Cut Mechanical Rubber

NAICS Code

326291 - Rubber Product Manufacturing for Mechanical Use

Loan Approval Date

7/16/2001

Loan Approval Gross Amount

$137,000

Loan Approval from the SBA

Of the total $137,000 loan amount, the SBA guaranteed $116,450.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Firstmerit 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.

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