Medina, Ohio Business Gets SBA-Guaranteed Funding from Firstmerit Bank

Firstmerit Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Ohio entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Firstmerit Bank, out of Medina, Ohio. The loan was granted and they received $70,000 to help grow their Medina, Ohio business.

SBA Loan Borrower

COMPANY TYPE: COMPUTER AND COMPUTER SOFTWARE STORES
MEDINA, OH 44256

SBA Loan Lender

FIRSTMERIT BANK
39 PUBLIC SQ
MEDINA, OH 44256

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5734 - Computer and Computer Software Stores

NAICS Code

443120 - Computer and Software Stores

Loan Approval Date

2/2/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

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 did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

This SBA loan was for $70,000. How would you spend $70,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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