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December 20, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Grove City, Business Loans > Heartland Bank Grove City Business Loans > Roofing, Siding, And Sheet Metal Contractors Loan | ||||
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How to Get a Business Loan in Columbus, Ohio
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Columbus, Ohio Entrepreneur Gets a Bank LoanSBA loans in Ohio are hard to find these days. We take a look at one Ohio SBA loan, provided by an Ohio bank, that was approved by the SBA. You can learn something about getting a small business loan in Columbus, Ohio by studying this loan to a local business, made back in 2003. Banks like Heartland Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL CONTRACTORS SBA Loan Lender HEARTLAND BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235610 - Roofing, Siding, and Sheet Metal Contractors Loan Approval Date 1/6/2003 Loan Approval Gross Amount $345,000 Loan Approval from the SBA Of the total $345,000 loan amount, the SBA guaranteed $258,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. 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: Determining Proper Capital Structure for a Business Best Banks for Small Business in Grove City, Ohio Browse All Business Loan Sources for Ohio
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