Loans for Professional, Scientific, and Technical Services

Looking for loans for professional, scientific, and technical services? An SBA loan may be just what you've been looking for. This $33,600 professional, scientific, and technical services loan was issued by an Ohio bank.

This small firm knew how to go about getting a business bank loan. Based in Powell, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was The Huntington National Bank, based in Salineville, Ohio.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
Powell, OH 43065

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
10 E MAIN ST
SALINEVILLE, OH 43945

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

7/12/2006

Loan Approval Gross Amount

$33,600

Loan Approval from the SBA

Of the total $33,600 loan amount, the SBA guaranteed $16,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Investor Turnoffs

SBA Participating Banks in Salineville, Ohio

SBA Lenders in Ohio