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January 22, 2025 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Used Car Dealers Loan | ||||
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We Needed an SBA Loan in Columbiana, Ohio and We Got One!
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Where to Get Capital for Used Car DealersLooking for SBA loans for used car dealers? Try the SBA. This $30,500 used car dealers loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbiana, Ohio was able to borrow $30,500 from National City Bank. The SBA made the loan possible by guaranteeing $15,250 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender NATIONAL CITY BANK 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 441120 - Used Car Dealers Loan Approval Date 2/9/2005 Loan Approval Gross Amount $30,500 Loan Approval from the SBA Of the total $30,500 loan amount, the SBA guaranteed $15,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company. 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: How Much Venture Capital Is There?
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