Pepper Pike, Ohio Bank Lends Money to Barber Shops Company in Rocky River, Ohio

Find Pepper Pike, Ohio banks that specialize in SBA loans and know how to work with entrepreneurs. Citizens Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Rocky River, Ohio starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Citizens Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BARBER SHOPS
ROCKY RIVER, OH 44116

SBA Loan Lender

CITIZENS BANK
29225 CHAGRIN BLVD
PEPPER PIKE, OH 44124

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7241 - Barber Shops

NAICS Code

812111 - Barber Shops

Loan Approval Date

10/25/2002

Loan Approval Gross Amount

$31,000

Loan Approval from the SBA

Of the total $31,000 loan amount, the SBA guaranteed $26,350.

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. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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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