Western Reserve Bank SBA Loan to Homefurnishings Stores Company

Searching for an Ohio small business loan? Here's one Ohio business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Medina, Ohio was able to borrow $100,000 from Western Reserve Bank. The SBA made the loan possible by guaranteeing $75,000 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
MEDINA, OH 44256

SBA Loan Lender

WESTERN RESERVE BANK
4015 MEDINA RD
MEDINA, OH 44256

This loan for a small business 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.

SIC Code

5719 - Homefurnishings Stores

Loan Approval Date

5/15/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

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 loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Western Reserve Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Western Reserve Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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Where to Get an SBA Loan in Medina, Ohio

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