Entrepreneur Works With North Olmsted, Ohio Bank to Get an SBA Loan

Thinking about meeting with a North Olmsted, Ohio bank about a business loan? Here's one Ohio business loan, issued by a North Olmsted bank, that was approved by the SBA.

Applying for an SBA loan with Ups Capital Business Credit worked out well for our friends at one local firm in Garfield Heights, Ohio. They received an SBA loan for $240,000. Nice!

SBA Loan Borrower

COMPANY TYPE: CONCRETE WORK
GARFIELD HEIGHTS, OH 44128

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
25050 COUNTRY CLUB BLVD, STE
NORTH OLMSTED, OH 44070

This loan for a small business was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a deep knowledge SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1771 - Concrete Work

Loan Approval Date

5/5/2000

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $240,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Family and Friend Investors - Your First Financiers

SBA Banks in North Olmsted, Ohio

Getting an SBA Loan in Ohio