Company Gets an Ohio Small Business Loan

Would an Ohio SBA loan help your business get to the next level? 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 Mansfield, Ohio by studying this loan to a local business, made back in 2005. Banks like The Richland Trust Company may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMUNICATION AND ENERGY WIRE MANUFACTURING
MANSFIELD, OH 44905

SBA Loan Lender

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

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

335929 - Communication and Energy Wire Manufacturing

Loan Approval Date

6/10/2005

Loan Approval Gross Amount

$118,100

Loan Approval from the SBA

Of the total $118,100 loan amount, the SBA guaranteed $59,050.

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 SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Equity Financing

SBA 7A Banks in Mansfield, Ohio

Ohio SBA 7A Lenders