Local Business Gets an Ohio Bank Loan

Business loans in Ohio are hard to find these days. We take a look at one Ohio business loan, provided by an Ohio bank, that was approved by the SBA.

By giving the right information to National City Bank, this Cleveland, Ohio business was able to get an SBA loan. To get this loan, the business owner 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: GASOLINE STATIONS WITH CONVENIENCE STORES
CLEVELAND, OH 44128

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

6/9/2004

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. 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 loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company.

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.

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