Where to Get Capital for Machine Shops

Looking for SBA loans for machine shops? Talk to a banker who works with the SBA. This $600,000 machine shops loan was issued by an Ohio bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Firstmerit Bank, out of Akron, Ohio. The loan was granted and they received $600,000 to help grow their Highland Heights, Ohio business.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
HIGHLAND HEIGHTS, OH 44143

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This loan for a small business 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

332710 - Machine Shops

Loan Approval Date

5/27/2003

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Highland Heights OH, you ought to talk with a local Highland Heights SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Highland Heights businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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SBA Participating Banks in Ohio