Progressive Bank Gives Bank Loan to Supermarkets And Grocery Stores Company

Would an Ohio SBA loan help your business get to the next level? If so, you may want to talk with this West Virginia bank, which offers SBA loans to Ohio entrepreneurs.

You can learn something about getting a small business loan in Martins Ferry, Ohio by studying this loan to a local business, made back in 2004. Banks like Progressive Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
MARTINS FERRY, OH 43935

SBA Loan Lender

PROGRESSIVE BANK
1090 E BETHLEHEM BLVD
WHEELING, WV 26003

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

445110 - Supermarkets and Grocery Stores

Loan Approval Date

3/16/2004

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 8 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

While you may be able to find other ways to get money to start a business, 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:

Obtaining Funding - How to Borrow Money

Best Wheeling, West Virginia Banks for Small Business

West Virginia SBA 7A Lenders