Local Business Gets an Ohio Bank Loan

Would an Ohio business loan help your company expand? If so, you may want to talk with this Ohio bank, which offers SBA loans to Ohio entrepreneurs.

This company, based in Fairfield, Ohio, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First National Cincinnati Corp. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: VITREOUS CHINA TABLE AND KITCHEN ARTICLES
FAIRFIELD, OH 45014

SBA Loan Lender

FIRST NATIONAL CINCINNATI CORP
425 WALNUT ST
CINCINNATI, OH 45202

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3262 - Vitreous China Table and Kitchen Articles

NAICS Code

327112 - Vitreous China, Fine Earthenware, and Pottery Manufacturing

Loan Approval Date

8/30/2002

Loan Approval Gross Amount

$51,700

Loan Approval from the SBA

Of the total $51,700 loan amount, the SBA guaranteed $43,945.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $51,700 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

The Friends and Family Network

Small Bank Loans in Cincinnati, Ohio

Ohio SBA Bank Lenders