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December 19, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Akron, Business Loans > Firstmerit Bank Akron Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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Ohio Small Business SBA Loans
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Firstmerit Bank Gives Small Business Loan to General Contracting For Nonresidential Buildings CompanySearching for an Ohio bank loan? This Ohio entrepreneur got a bank loan, provided by an Ohio bank that works with the SBA to help small business owners. By giving the right information to Firstmerit Bank, this Parma, Ohio business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender FIRSTMERIT BANK 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 1542 - General Contracting for Nonresidential Buildings NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 11/6/2002 Loan Approval Gross Amount $30,150 Loan Approval from the SBA Of the total $30,150 loan amount, the SBA guaranteed $25,627. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $30,150 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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. Related Links: Who Lends Money to Small Businesses in Akron, Ohio
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