Borrowing Money for Employee Leasing Services

With these loans for employee leasing services, the SBA guarantees the lender that the loan will be repaid. This employee leasing services loan for $420,000 was given to an Ohio entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Dayton, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First Finan Bank, based in Hamilton, Ohio.

SBA Loan Borrower

COMPANY TYPE: EMPLOYEE LEASING SERVICES
DAYTON, OH 45408

SBA Loan Lender

FIRST FINAN BANK
300 HIGH ST
HAMILTON, OH 45012

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561330 - Employee Leasing Services

Loan Approval Date

4/18/2007

Loan Approval Gross Amount

$420,000

Loan Approval from the SBA

Of the total $420,000 loan amount, the SBA guaranteed $315,000.

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 200 employees. This SBA loan request indicated that the funding would help generate 100 new jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Finan Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Finan Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Financing Your Business

SBA 7A Banks for Hamilton, Ohio Loans

Ohio SBA Bank Lenders