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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Columbus, Business Loans > The Huntington National Bank Columbus Business Loans > Commercial And Industrial Machinery And Equipment Loan | ||||
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The Huntington National Bank
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SBA Loan from The Huntington National Bank Helps Commercial And Industrial Machinery And Equipment CompanyThe Huntington National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Grandville, Michigan, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was The Huntington National Bank, based in Columbus, Ohio. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT SBA Loan Lender THE HUNTINGTON NATIONAL BANK 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 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 8/3/2006 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 no employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. While you may be able to borrow money from friends and family, 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: Accountant's Role in Securing Financing Best Columbus, Ohio Banks for Small Business
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