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December 22, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Chiropractors Loan | ||||
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How to Get SBA Loans in Cincinnati, Ohio
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Getting an SBA Loan for ChiropractorsLooking for commercial loans for chiropractors? The SBA may be the answer. This $1,012,400 chiropractors loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cincinnati, Ohio was able to borrow $1,012,400 from National City Bank. The SBA made the loan possible by guaranteeing $759,300 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender NATIONAL CITY BANK 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 621310 - Chiropractors Loan Approval Date 10/31/2007 Loan Approval Gross Amount $1,012,400 Loan Approval from the SBA Of the total $1,012,400 loan amount, the SBA guaranteed $759,300. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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:
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