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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Medina, Business Loans > Western Reserve Bank Medina Business Loans > Candy, Nut, And Confectionery Stores Loan | ||||
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SBA Loan from Western Reserve Bank
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SBA Loan from Western Reserve Bank Helps Candy, Nut, And Confectionery Stores CompanyAn SBA loan from Western Reserve Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Columbus, Ohio business owner got a $200,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbus, Ohio was able to borrow $200,000 from Western Reserve Bank. The SBA made the loan possible by guaranteeing $150,000 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: CANDY, NUT, AND CONFECTIONERY STORES SBA Loan Lender WESTERN RESERVE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5441 - Candy, Nut, and Confectionery Stores NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 9/6/2001 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Western Reserve Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Who Lends Money to Small Businesses in Medina, Ohio
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