Local Business Gets an Ohio Small Business Loan
Would an Ohio business loan help your company expand? If so, you may want to talk with this Ohio bank, which offers SBA loans to Ohio entrepreneurs.
You can learn something about getting a small business loan in Lewis Center, Ohio by studying this loan to a local business, made back in 2000. Banks like Fifth Third Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE SERVICES
LEWIS CENTER, OH 43035
SBA Loan Lender
FIFTH THIRD BANK
21 E STATE ST
COLUMBUS, OH 43215
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7549 - Automotive Services
Loan Approval Date
7/6/2000
Loan Approval Gross Amount
$690,000
Loan Approval from the SBA
Of the total $690,000 loan amount, the SBA guaranteed $517,500.
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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
The Art of Bootstrapping
SBA Banks in Columbus, Ohio
Getting an SBA Loan in Ohio