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November 21, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Panama City Beach, Business Loans > Business Loan Center, LLC Panama City Beach Business Loans > Residential Property Managers Loan | ||||
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Who Lends Money to Cincinnati Businesses
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Ohio SBA Loan Issued to Residential Property Managers CompanyBusiness loans in Ohio are hard to find these days. We take a look at one Ohio business loan, provided by a Florida bank, that was approved by the SBA. Getting a small business loan in Cincinnati, Ohio was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL PROPERTY MANAGERS SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 531311 - Residential Property Managers Loan Approval Date 6/1/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Who Lends Money to Small Businesses in Panama City Beach, Florida
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