Ohio Business Loan Issued to Fluid Power Cylinder And Actuator Manufacturing Company

OhioSmall business loans are available to Ohio small business owners through the SBA. In this case, a West Virginia bank provides the loan.

You can learn something about getting a small business loan in Midvale, Ohio by studying this loan to a local company, made back in 2002. Banks like The Huntington National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FLUID POWER CYLINDER AND ACTUATOR MANUFACTURING
MIDVALE, OH 44653

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
980 NATIONAL RD
WHEELING, WV 26003

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333995 - Fluid Power Cylinder and Actuator Manufacturing

Loan Approval Date

8/27/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 25 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

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 The Huntington 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.

Related Links:

Angel Investors

SBA 7A Banks for Wheeling, West Virginia Loans

SBA Participating Banks in West Virginia