Commercial Loans for Art Dealers

With these commercial loans for art dealers, the SBA guarantees the lender that the loan will be repaid. This art dealers loan for $84,000 was given to a Michigan entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with The Huntington National Bank, out of Columbus, Ohio. The loan was granted and they received $84,000 to help grow their Detriot, Michigan business.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
DETRIOT, MI 48224

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453920 - Art Dealers

Loan Approval Date

5/8/2001

Loan Approval Gross Amount

$84,000

Loan Approval from the SBA

Of the total $84,000 loan amount, the SBA guaranteed $71,400.

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. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from The Huntington National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Cash Advances

SBA Participating Banks in Columbus, Ohio

Getting an SBA Loan in Ohio