Chesapeake, Ohio Bank Gives SBA Loan to Nonmetallic Minerals Company

A Chesapeake, Ohio SBA loan can be yours. Learn how a business got a $44,112 business loan from this Ohio bank.

This loan to an entrepreneur is a good example of an SBA loan. City National Bank - W. Virginia made the loan and the SBA guaranteed a portion of the loan. Many other Ohio entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: NONMETALLIC MINERALS
CHESAPEAKE, OH 40619

SBA Loan Lender

CITY NATIONAL BANK - W. VIRGINIA
1012 ROCKWOOD AVE
CHESAPEAKE, OH 45619

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1499 - Nonmetallic Minerals

Loan Approval Date

5/4/2000

Loan Approval Gross Amount

$44,112

Loan Approval from the SBA

Of the total $44,112 loan amount, the SBA guaranteed $35,289.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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