1st Cit. National Bank - Upper Sand SBA Loan to Hardware Stores Company

1st Cit. National Bank - Upper Sand has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Forest, Ohio was able to borrow $57,000 from 1st Cit. National Bank - Upper Sand. The SBA made the loan possible by guaranteeing $48,450 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
FOREST, OH 45843

SBA Loan Lender

1ST CIT. NATIONAL BANK - UPPER SAND
100 N SANDUSKY AVE
UPPER SANDUSKY, OH 43351

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a 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.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

11/14/2003

Loan Approval Gross Amount

$57,000

Loan Approval from the SBA

Of the total $57,000 loan amount, the SBA guaranteed $48,450.

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 2 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

Attracting Investors

SBA Banks in Upper Sandusky, Ohio

SBA Lenders in Ohio