Business Loan from The Lorain National Bank Given to Beer, Wine, And Liquor Stores Company

An SBA loan from The Lorain National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rocky River, Ohio business owner got a $175,600 loan.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The Lorain National Bank, out of Lorain, Ohio. The loan was granted and they received $175,600 to help grow their Rocky River, Ohio business.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
ROCKY RIVER, OH 44116

SBA Loan Lender

THE LORAIN NATIONAL BANK
457 BROADWAY
LORAIN, OH 44052

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

8/29/2005

Loan Approval Gross Amount

$175,600

Loan Approval from the SBA

Of the total $175,600 loan amount, the SBA guaranteed $131,700.

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 only one employee. The SBA loan documents indicated that the loan would help create 1 new job.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Lorain National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Lorain National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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