Local Business Gets an Ohio Business Loan
Want an Ohio business loan? This Ohio entrepreneur got a business loan, provided by a Texas bank that works with the SBA to help small business owners.
Getting a small business loan in Cleveland, Ohio was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Jpmorgan Chase Bank. Here are the details on this Ohio small business loan.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL MOLD MANUFACTURING
CLEVELAND, OH 44120
SBA Loan Lender
JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002
The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
333511 - Industrial Mold Manufacturing
Loan Approval Date
3/28/2001
Loan Approval Gross Amount
$111,100
Loan Approval from the SBA
Of the total $111,100 loan amount, the SBA guaranteed $55,550.
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 8 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 8 existing jobs.
Next Steps for Getting an SBA Loan
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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $111,100 loan. Remember, you control your own destiny.
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:
Accountant's Role in Securing Financing
Best Banks for Small Business in Houston, Texas
Getting an SBA Loan in Texas