Parma Heights, Ohio Business Gets SBA-Guaranteed Funding from Firstmerit Bank

Firstmerit Bank has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Firstmerit Bank, out of Akron, Ohio. The loan was granted and they received $126,200 to help grow their Parma Heights, Ohio business.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
Parma Heights, OH 44130

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

6/30/2005

Loan Approval Gross Amount

$126,200

Loan Approval from the SBA

Of the total $126,200 loan amount, the SBA guaranteed $63,100.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

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