Mansfield, Ohio Bank Lends Money to Video Tape Rental Company in Lexington, Ohio

Want to talk with a Mansfield, Ohio bank about a small business loan? Here's one Ohio business loan, issued by a Mansfield bank, that was approved by the SBA.

Applying for an SBA loan with The Richland Trust Company worked out well for our friends at one local firm in Lexington, Ohio. They got an SBA loan for $63,000. Great job!

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
LEXINGTON, OH 44904

SBA Loan Lender

THE RICHLAND TRUST COMPANY
3 N MAIN ST
MANSFIELD, OH 44902

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

10/11/2002

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $53,550.

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 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Lexington or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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