North Canton, Ohio Business Gets SBA-Guaranteed Funding from The Citizens Banking Company

The Citizens Banking Company 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 North Canton, Ohio was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from The Citizens Banking Company, operating out of Akron, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
NORTH CANTON, OH 44720

SBA Loan Lender

THE CITIZENS BANKING COMPANY
529 N CLEVELAND-MASSILLON RD
AKRON, OH 44333

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

4/4/2007

Loan Approval Gross Amount

$371,000

Loan Approval from the SBA

Of the total $371,000 loan amount, the SBA guaranteed $278,250.

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 17 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 9 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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