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December 22, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Columbus, Business Loans > The Huntington National Bank Columbus Business Loans > Metal Service Centers And Metal Merchant Wholesalers Loan | ||||
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SBA Lenders in Ohio
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Business Loan from The Huntington National Bank Given to Metal Service Centers And Metal Merchant Wholesalers CompanyThe Huntington National Bank has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Hudson, Ohio, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was The Huntington National Bank, based in Columbus, Ohio. SBA Loan Borrower COMPANY TYPE: METAL SERVICE CENTERS AND METAL MERCHANT WHOLESALERS SBA Loan Lender THE HUNTINGTON NATIONAL BANK The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 423510 - Metal Service Centers and Metal Merchant Wholesalers Loan Approval Date 7/8/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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. This SBA loan request indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Who Lends Money to Small Businesses in Columbus, Ohio
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