Cleveland, Ohio Bank Gives SBA Loan to Book Publishers Company

Find Cleveland, Ohio banks that specialize in SBA loans and know how to work with entrepreneurs. Dollar Bank A Fed. Savings Bk is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Olmsted Falls, Ohio starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Dollar Bank A Fed. Savings Bk. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BOOK PUBLISHERS
OLMSTED FALLS, OH 44138

SBA Loan Lender

DOLLAR BANK A FED. SAVINGS BK
1301 E 9TH ST
CLEVELAND, OH 44114

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

511130 - Book Publishers

Loan Approval Date

8/4/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 $20,000 loan. Remember, you control your own destiny.

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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