Medina, Ohio Bank Gives SBA Loan to Electrical Apparatus And Equipment, Wiring Supplies, And Related Equipment Company

Get to know Medina, Ohio banks that specialize in SBA loans and know how to work with entrepreneurs. Western Reserve Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPARATUS AND EQUIPMENT, WIRING SUPPLIES, AND RELATED EQUIPMENT
FAIRLAWN, OH 44333

SBA Loan Lender

WESTERN RESERVE BANK
4015 MEDINA RD
MEDINA, OH 44256

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423610 - Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment

Loan Approval Date

12/22/2006

Loan Approval Gross Amount

$640,000

Loan Approval from the SBA

Of the total $640,000 loan amount, the SBA guaranteed $480,000.

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 12 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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