Parma, Ohio Bank Lends Money to Machine Shops Company in Euclid, Ohio

Get SBA loans from a Parma, Ohio bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

American National Bank is a Parma, Ohio small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Ohio company.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
EUCLID, OH 44132

SBA Loan Lender

AMERICAN NATIONAL BANK
5603 RIDGE RD
PARMA, OH 44129

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

332710 - Machine Shops

Loan Approval Date

11/14/2007

Loan Approval Gross Amount

$127,500

Loan Approval from the SBA

Of the total $127,500 loan amount, the SBA guaranteed $108,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

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. American National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American National 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.

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