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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Salineville, Business Loans > The Huntington National Bank Salineville Business Loans > Industrial Machinery And Equipment Merchant Wholesalers Loan | ||||
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Lodi, Ohio Bank Loan
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Industrial Machinery and Equipment Merchant Wholesalers Small Business LoansLooking for small business loans for industrial machinery and equipment merchant wholesalers? An SBA loan may be just what you've been looking for. This $125,000 industrial machinery and equipment merchant wholesalers loan was issued by an Ohio bank. Getting a small business loan in Lodi, Ohio was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank, operating out of Salineville, Ohio. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender THE HUNTINGTON NATIONAL BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423830 - Industrial Machinery and Equipment Merchant Wholesalers Loan Approval Date 12/15/2006 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Microlending as a Small Business Funding Source SBA Banks in Salineville, Ohio Browse All Business Loan Sources for Ohio
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