Madison, Ohio Entrepreneur Gets a 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 Ohio bank, which offers SBA loans to Ohio entrepreneurs.

You can learn something about getting a small business loan in Madison, Ohio by studying this loan to a local company, made back in 2003. Banks like Firstmerit Commun Devel Corp may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
MADISON, OH 44057

SBA Loan Lender

FIRSTMERIT COMMUN DEVEL CORP
106 S MAIN ST, #C
AKRON, OH 44308

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7379 - Computer Related Services

NAICS Code

541519 - Computer Related Services

Loan Approval Date

6/19/2003

Loan Approval Gross Amount

$117,000

Loan Approval from the SBA

Of the total $117,000 loan amount, the SBA guaranteed $99,450.

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 4 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Madison 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.

Related Links:

Obtaining Funding - Friends and Family

SBA Banks in Akron, Ohio

SBA Lenders in Ohio