Cleveland, Ohio Business Gets SBA-Guaranteed Funding from Ups Capital Business Credit
Ups Capital Business Credit is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cleveland, Ohio was able to borrow $1,275,000 from Ups Capital Business Credit. The SBA made the loan possible by guaranteeing $956,250 of this Ohio small business loan.
SBA Loan Borrower
COMPANY TYPE: LOCAL MESSENGERS AND LOCAL DELIVERY
CLEVELAND, OH 44102
SBA Loan Lender
UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
492210 - Local Messengers and Local Delivery
Loan Approval Date
3/28/2001
Loan Approval Gross Amount
$1,275,000
Loan Approval from the SBA
Of the total $1,275,000 loan amount, the SBA guaranteed $956,250.
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 42 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 42 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ups Capital Business Credit had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ups Capital Business Credit 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.
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