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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > Rbs Citizens Cleveland Business Loans > Paint, Glass, And Wallpaper Stores Loan | ||||
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Cleveland Lenders
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Entrepreneur Works With Cleveland, Ohio Bank to Get an SBA LoanThinking about meeting with a Cleveland, Ohio bank about an SBA loan? Here's one Ohio business loan, issued by a Cleveland bank, that was approved by the SBA. Applying for an SBA loan with Rbs Citizens worked out well for our friends at one local business in Fairview Park, Ohio. The business was able to get an SBA loan for $45,000. Great job! SBA Loan Borrower COMPANY TYPE: PAINT, GLASS, AND WALLPAPER STORES SBA Loan Lender RBS CITIZENS This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5231 - Paint, Glass, and Wallpaper Stores NAICS Code 444120 - Paint and Wallpaper Stores Loan Approval Date 8/24/2000 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $36,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Participating Banks in Cleveland, Ohio
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