Firstmerit Commun Devel Corp SBA Loan to Masonry, Stone Setting, And Other Stone Work Company

Firstmerit Commun Devel Corp and the SBA work together to get business loans for growing small businesses. Here's an example of how an Ohio entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Mogadore, Ohio was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Firstmerit Commun Devel Corp, operating out of Akron, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: MASONRY, STONE SETTING, AND OTHER STONE WORK
MOGADORE, OH 44260

SBA Loan Lender

FIRSTMERIT COMMUN DEVEL CORP
106 S MAIN ST, #C
AKRON, OH 44308

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1741 - Masonry, Stone Setting, and Other Stone Work

NAICS Code

235410 - Masonry and Stone Contractors

Loan Approval Date

3/20/2002

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Firstmerit Commun Devel Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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