Business Loan from Franklin S & L Co Given to Textile Goods Company

Franklin S & L Co 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 received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Franklin S & L Co, out of Cincinnati, Ohio. The loan was granted and they received $397,000 to help grow their Cincinnati, Ohio business.

SBA Loan Borrower

COMPANY TYPE: TEXTILE GOODS
CINCINNATI, OH 45240

SBA Loan Lender

FRANKLIN S & L CO
4750 ASHWOOD DR
CINCINNATI, OH 45241

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2299 - Textile Goods

NAICS Code

314999 - Textile Product Mills

Loan Approval Date

2/4/2004

Loan Approval Gross Amount

$397,000

Loan Approval from the SBA

Of the total $397,000 loan amount, the SBA guaranteed $297,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Franklin S & L Co had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Franklin S & L Co made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 From a Venture Capitalist

Good Banks for Small Business in Cincinnati, Ohio

Ohio SBA 7A Lenders