Lorain, Ohio Business Gets SBA-Guaranteed Funding from National City Bank

An SBA loan from National City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lorain, Ohio business owner got a $45,000 loan.

Getting a small business loan in Lorain, Ohio was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Indianapolis, Indiana. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
LORAIN, OH 44052

SBA Loan Lender

NATIONAL CITY BANK
101 W WASHINGTON ST # 100 E
INDIANAPOLIS, IN 46255

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5992 - Florists

NAICS Code

453110 - Florists

Loan Approval Date

9/13/2000

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $36,000.

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 4 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Lorain OH, you ought to talk with a local Lorain SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lorain businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from National City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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Where to Get an SBA Loan in Indianapolis, Indiana

SBA Indiana Lenders