Financing for Depository Credit intermediation

With these loans for depository credit intermediation, the SBA guarantees the lender that the loan will be repaid. This depository credit intermediation loan for $233,900 was given to an Ohio entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fairfield, Ohio was able to borrow $233,900 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $175,425 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: DEPOSITORY CREDIT INTERMEDIATION
FAIRFIELD, OH 45014

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

522190 - Depository Credit intermediation

Loan Approval Date

4/3/2003

Loan Approval Gross Amount

$233,900

Loan Approval from the SBA

Of the total $233,900 loan amount, the SBA guaranteed $175,425.

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 20 employees. The SBA loan documents indicated that the loan would help retain 20 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Huntington National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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