Entrepreneur Works With Akron, Ohio Bank to Get an SBA Loan

Get SBA loans from an Akron, Ohio bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Firstmerit Bank is a Akron, Ohio small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Ohio company.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION
GRAFTON, OH 44044

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

237310 - Highway, Street, and Bridge Construction

Loan Approval Date

4/1/2005

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help create 6 new jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Advice on Getting a Small Business Loan

SBA Participating Banks in Akron, Ohio

Getting an SBA Loan in Ohio