Business Loan from Firstmerit Commun Devel Corp Given to Florists Company

Firstmerit Commun Devel Corp has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Mount Vernon, Ohio, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Firstmerit Commun Devel Corp, based in Akron, Ohio.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
MOUNT VERNON, OH 43028

SBA Loan Lender

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

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5992 - Florists

NAICS Code

453110 - Florists

Loan Approval Date

12/11/2002

Loan Approval Gross Amount

$117,000

Loan Approval from the SBA

Of the total $117,000 loan amount, the SBA guaranteed $99,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $117,000 loan. Remember, if it to be, it is up to me!

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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