Entrepreneur Works With Mansfield, Ohio Bank to Get an SBA Loan

Find Mansfield, Ohio banks that specialize in SBA loans and know how to work with entrepreneurs. The Richland Trust Company is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Mansfield, Ohio starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from The Richland Trust Company. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
MANSFIELD, OH 44906

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

7/8/2004

Loan Approval Gross Amount

$48,750

Loan Approval from the SBA

Of the total $48,750 loan amount, the SBA guaranteed $41,438.

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 3 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Richland Trust Company 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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