Company Gets an Ohio SBA Loan

SBA loans in Ohio are tough to come by these days. We take a look at one Ohio SBA loan, provided by an Ohio bank, that was approved by the SBA.

Getting a small business loan in Pataskala, Ohio was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING
PATASKALA, OH 43062

SBA Loan Lender

FIFTH THIRD BANK
21 E STATE ST
COLUMBUS, OH 43215

This lender issued this particular SBA 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.

NAICS Code

339999 - Manufacturing

Loan Approval Date

4/5/2005

Loan Approval Gross Amount

$102,600

Loan Approval from the SBA

Of the total $102,600 loan amount, the SBA guaranteed $87,210.

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 4 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Pataskala OH, you ought to talk with a local Pataskala SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pataskala businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

SBIR Funding

Small Business Banks in Columbus, Ohio

Getting an SBA Loan in Ohio