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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cincinnati, Business Loans > Oak Hill Banks Cincinnati Business Loans > Wood Partitions And Fixtures Loan | ||||
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Cincinnati, Ohio Bank for SBA Loans
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Oak Hill Banks Gives Bank Loan to Wood Partitions And Fixtures CompanyOhioBank loans are available to Ohio firms through the SBA. In this case, an Ohio bank provides the loan. By giving the right information to Oak Hill Banks, this Cincinnati, Ohio business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: WOOD PARTITIONS AND FIXTURES SBA Loan Lender OAK HILL BANKS This SBA business loan 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 2541 - Wood Partitions and Fixtures NAICS Code 337212 - Custom Architectural Woodwork and Millwork Manufacturing Loan Approval Date 3/22/2002 Loan Approval Gross Amount $1,554,000 Loan Approval from the SBA Of the total $1,554,000 loan amount, the SBA guaranteed $999,999. 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 30 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Oak Hill Banks that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Lenders in Cincinnati, Ohio
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