Growing Company Gets an Ohio Small Business Loan

Would an Ohio bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Georgia bank, which offers SBA loans to Ohio entrepreneurs.

This small business, based in Loveland, Ohio, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Chatham Bank. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: PET CARE SERVICES
LOVELAND, OH 45150

SBA Loan Lender

FIRST CHATHAM BANK
111 BARNARD ST
SAVANNAH, GA 31401

This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812910 - Pet Care Services

Loan Approval Date

8/31/2007

Loan Approval Gross Amount

$182,500

Loan Approval from the SBA

Of the total $182,500 loan amount, the SBA guaranteed $136,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the loan would help generate 13 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Loveland OH, you ought to talk with a local Loveland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Loveland businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Chatham Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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