Cleveland, Ohio Bank Lends Money to Commercial Equipment Wholesalers Company in Jupiter, Florida

A Cleveland, Ohio business loan can be yours. Learn how a company got a $672,000 business loan from this Ohio bank.

This loan to a local firm is a good example of an SBA loan. National City Bank made the loan and the SBA guaranteed a portion of the loan. Many other Florida entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL EQUIPMENT WHOLESALERS
JUPITER, FL 33469

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421440 - Commercial Equipment Wholesalers

Loan Approval Date

4/19/2002

Loan Approval Gross Amount

$672,000

Loan Approval from the SBA

Of the total $672,000 loan amount, the SBA guaranteed $504,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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