Cleveland, Ohio Lender Lends Money to Lighting Equipment Manufacturing Company

Thinking about meeting with a Cleveland, Ohio bank about a business loan? Here's one Ohio business loan, issued by a Cleveland bank, that was approved by the SBA.

Applying for an SBA loan with National City Bank worked out well for our friends at one local company in Clinton, Ohio. They got an SBA loan for $27,900. Awesome!

SBA Loan Borrower

COMPANY TYPE: LIGHTING EQUIPMENT MANUFACTURING
Clinton, OH 44216

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

335129 - Lighting Equipment Manufacturing

Loan Approval Date

11/5/2007

Loan Approval Gross Amount

$27,900

Loan Approval from the SBA

Of the total $27,900 loan amount, the SBA guaranteed $13,950.

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 loan application indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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