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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Pepper Pike, Business Loans > Citizens Bank Pepper Pike Business Loans > Florists Loan | ||||
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How to Get SBA Loans in Chesterland, Ohio
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Florists Bank LoansLooking for bank loans for florists? Talk to a banker who works with the SBA. This $25,000 florists loan was issued by an Ohio bank. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Citizens Bank, out of Pepper Pike, Ohio. The loan was granted and they received $25,000 to help grow their Chesterland, Ohio business. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender CITIZENS BANK This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 10/11/2000 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $20,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - How to Decide How Much to Raise SBA Participating Banks in Pepper Pike, Ohio
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