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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > New York, Business Loans > Grow America Fund Inc New York Business Loans > General Contracting For Residential Buildings Loan | ||||
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SBA Lender Ohio
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SBA Loan from Grow America Fund Inc Helps General Contracting For Residential Buildings CompanyGrow America Fund Inc has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them. Getting a small business loan in Cincinnati, Ohio was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Grow America Fund Inc, operating out of New York, New York. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR RESIDENTIAL BUILDINGS SBA Loan Lender GROW AMERICA FUND INC This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and a deep knowledge SBA policies and procedures. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1522 - General Contracting for Residential Buildings NAICS Code 236220 - Commercial and Institutional Building Construction Loan Approval Date 6/30/2005 Loan Approval Gross Amount $360,000 Loan Approval from the SBA Of the total $360,000 loan amount, the SBA guaranteed $270,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 32 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Dealing With Venture Capitalists Small Business Banks in New York, New York
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