Entrepreneur Works With Defiance, Ohio Bank to Get an SBA Loan

Find Defiance, Ohio banks that specialize in small business loans and know how to work with entrepreneurs. First Fed. Bank - Midwest is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Defiance, Ohio starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from First Fed. Bank - Midwest. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
DEFIANCE, OH 43512

SBA Loan Lender

FIRST FED. BANK - MIDWEST
601 CLINTON ST
DEFIANCE, OH 43512

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

722410 - Drinking Places

Loan Approval Date

11/1/2006

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Defiance OH, you ought to talk with a local Defiance SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Defiance businesses.

This SBA loan was for $210,000. How would you spend $210,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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Ohio SBA 7A Banks