Where to Get Capital for Home Health Care Services

Looking for SBA loans for home health care services? Talk to a banker who works with the SBA. This $357,875 home health care services loan was issued by an Ohio bank.

Getting a small business loan in Medina, Ohio was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Western Reserve Bank, operating out of Medina, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH CARE SERVICES
MEDINA, OH 44256

SBA Loan Lender

WESTERN RESERVE BANK
4015 MEDINA RD
MEDINA, OH 44256

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621610 - Home Health Care Services

Loan Approval Date

11/26/2007

Loan Approval Gross Amount

$357,875

Loan Approval from the SBA

Of the total $357,875 loan amount, the SBA guaranteed $268,406.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Medina OH, you ought to talk with a local Medina SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Medina businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Advice on Getting a Small Business Loan

Who Lends Money to Small Businesses in Medina, Ohio

Ohio SBA Bank Lenders