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December 20, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Columbus, Business Loans > Commerce National Bank Columbus Business Loans > Heavy And Civil Engineering Construction Loan | ||||
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Commerce National Bank Business Loan Columbus
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Commerce National Bank SBA Loan to Heavy And Civil Engineering Construction CompanyAn SBA loan from Commerce National 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 $250,000 loan. This business knew how to go about getting a business bank loan. Based in Columbus, Ohio, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Commerce National Bank, based in Columbus, Ohio. SBA Loan Borrower COMPANY TYPE: HEAVY AND CIVIL ENGINEERING CONSTRUCTION SBA Loan Lender COMMERCE NATIONAL BANK This lender provides SBA bank loans 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 237990 - Heavy and Civil Engineering Construction Loan Approval Date 7/25/2007 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 15 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 15 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Borrowing Money from Friends and Family Best Columbus, Ohio Banks for Small Business
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