Cleveland, Ohio Bank Gives SBA Loan to Collection Agencies Company

Thinking about meeting with a Cleveland, Ohio bank about an SBA loan? Here's one New York business loan, issued by a Cleveland bank, that was approved by the SBA.

Applying for an SBA loan with Keybank National Association worked out well for our friends at one local company in Poughkeepsie, New York. They got an SBA loan for $185,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: COLLECTION AGENCIES
POUGHKEEPSIE, NY 12601

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561440 - Collection Agencies

Loan Approval Date

3/26/2004

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

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 28 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 30 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Keybank National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Borrowing Money from Friends and Family

SBA Approved Banks in Cleveland, Ohio

Getting a Business Loan in Ohio