SBA Loan from Home Savings & Loan Co - Youn Helps Commercial Lithographic Printing Company

An SBA loan from Home Savings & Loan Co - Youn typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cleveland, Ohio business owner got a $650,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Home Savings & Loan Co - Youn, out of Youngstown, Ohio. The loan was granted and they received $650,000 to help grow their Cleveland, Ohio business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LITHOGRAPHIC PRINTING
CLEVELAND, OH 44105

SBA Loan Lender

HOME SAVINGS & LOAN CO - YOUN
275 FEDERAL PLAZA WEST
YOUNGSTOWN, OH 44503

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

323110 - Commercial Lithographic Printing

Loan Approval Date

9/23/2004

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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 Home Savings & Loan Co - Youn 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:

Bank Credit Lines

Small Bank Loans in Youngstown, Ohio

Ohio SBA Bank Lenders