Firstmerit Bank SBA Loan to Personal Care Services Company

An SBA loan from Firstmerit Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Conneaut, Ohio business owner got a $137,300 loan.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Firstmerit Bank, out of Akron, Ohio. The loan was granted and they received $137,300 to help grow their Conneaut, Ohio business.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
CONNEAUT, OH 44030

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

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

812199 - Personal Care Services

Loan Approval Date

10/21/2005

Loan Approval Gross Amount

$137,300

Loan Approval from the SBA

Of the total $137,300 loan amount, the SBA guaranteed $116,705.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Conneaut OH, you ought to talk with a local Conneaut SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Conneaut businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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