Local Business Gets an Ohio Business Loan

Searching for an Ohio business loan? This Ohio entrepreneur got a business loan, provided by an Ohio bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Cleveland, Ohio by studying this loan to a local business, made back in 2003. Banks like The Huntington National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PERIODICAL PUBLISHERS
CLEVELAND, OH 44109

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
220 MARKET AVE SOUTH, UNITED
CANTON, OH 44702

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

511120 - Periodical Publishers

Loan Approval Date

8/6/2003

Loan Approval Gross Amount

$441,000

Loan Approval from the SBA

Of the total $441,000 loan amount, the SBA guaranteed $330,750.

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 10 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from The Huntington National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Small Business Loan

Banks in Canton, Ohio

Ohio SBA 7A Lenders