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November 22, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Defiance, Business Loans > First Fed. Bank - Midwest Defiance Business Loans > Painting And Wall Covering Contractors Loan | ||||
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Small Business Banks for Findlay Businesses
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First Fed. Bank - Midwest Gives SBA Loan to Painting And Wall Covering Contractors CompanyBusiness 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. Getting a small business loan in Findlay, Ohio was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Fed. Bank - Midwest. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS SBA Loan Lender FIRST FED. BANK - MIDWEST This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238320 - Painting and Wall Covering Contractors Loan Approval Date 2/17/2005 Loan Approval Gross Amount $264,000 Loan Approval from the SBA Of the total $264,000 loan amount, the SBA guaranteed $198,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 13 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $264,000 loan. Remember, you control your own destiny. 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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