Fluid Power Cylinder and Actuator Manufacturing Business Loans

With these business loans for fluid power cylinder and actuator manufacturing, the SBA guarantees the lender that the loan will be repaid. This fluid power cylinder and actuator manufacturing loan for $675,000 was given to an Ohio entrepreneur in 2002.

Getting a small business loan in Midvale, Ohio was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank, operating out of Wheeling, West Virginia. Here are the details on this Ohio 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. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses.

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

$675,000

Loan Approval from the SBA

Of the total $675,000 loan amount, the SBA guaranteed $506,250.

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. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Midvale OH, you ought to talk with a local Midvale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Midvale 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 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:

Bank Credit Lines

SBA Approved Banks in Wheeling, West Virginia

SBA Lenders in West Virginia