Canton, Ohio Business Gets SBA-Guaranteed Funding from Firstmerit Bank

Firstmerit Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Ohio entrepreneur was able to get a loan to take a small business to the next level.

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

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CANTON, OH 44718

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/16/2006

Loan Approval Gross Amount

$60,900

Loan Approval from the SBA

Of the total $60,900 loan amount, the SBA guaranteed $30,450.

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 no employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Canton OH, you ought to talk with a local Canton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Canton businesses.

We can help you find the best banks for small businesses in Canton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

How to Raise Money

SBA 7A Banks for Akron, Ohio Loans

Where to Get an SBA Loan Ohio