The Citizens Banking Company Gives Small Business Loan to Secretarial And Court Reporting Services Company

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

Getting a small business loan in Powell, Ohio was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from The Citizens Banking Company. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: SECRETARIAL AND COURT REPORTING SERVICES
POWELL, OH 43065

SBA Loan Lender

THE CITIZENS BANKING COMPANY
601 SCIOTO ST
URBANA, OH 43078

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7338 - Secretarial and Court Reporting Services

Loan Approval Date

7/11/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $48,000.

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 only one employee. This SBA loan request 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.

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 $60,000 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.

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