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November 22, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Lima, Business Loans > The Union Bank Company Lima Business Loans > Commercial Banking Loan | ||||
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SBA Lender Findlay Ohio
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Local Business Gets an Ohio Business LoanBusiness loans in Ohio are are few and far betweeen these days. We take a look at one Ohio business loan, provided by an Ohio bank, that was approved by the SBA. This small business, based in Findlay, 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 The Union Bank Company. We've got the inside scoop on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL BANKING SBA Loan Lender THE UNION BANK COMPANY This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 522110 - Commercial Banking Loan Approval Date 7/15/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 7 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Union Bank Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Borrowing Money from Friends and Family SBA 7A Banks for Lima, Ohio Loans
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