Entrepreneur Works With Akron, Ohio Bank to Get an SBA Loan

Want to talk with an Akron, Ohio bank about a business loan? Here's one Pennsylvania business loan, issued by an Akron bank, that was approved by the SBA.

Applying for an SBA loan with Firstmerit Bank worked out well for our friends at one local firm in New Castle, Pennsylvania. They received an SBA loan for $10,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
NEW CASTLE, PA 16101

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

11/16/2007

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the funding would help generate 3 new jobs.

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

If you want money for new small business in New Castle PA, you ought to talk with a local New Castle SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Castle businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Firstmerit Bank 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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