Commercial Loans for Ophthalmic Goods Manufacturing

Looking for commercial loans for ophthalmic goods manufacturing? The SBA may be the answer. This $365,000 ophthalmic goods manufacturing loan was issued by an Ohio bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with American National Bank, out of Parma, Ohio. The loan was granted and they received $365,000 to help grow their Mentor, Ohio business.

SBA Loan Borrower

COMPANY TYPE: OPHTHALMIC GOODS MANUFACTURING
MENTOR, OH 44060

SBA Loan Lender

AMERICAN NATIONAL BANK
5603 RIDGE RD
PARMA, OH 44129

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339115 - Ophthalmic Goods Manufacturing

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$365,000

Loan Approval from the SBA

Of the total $365,000 loan amount, the SBA guaranteed $273,750.

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 35 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 35 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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