SBA Loan from United Midwest Savings Bank Helps Boat Dealers Company

An SBA loan from United Midwest Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Russells Poing, Ohio business owner got a $178,500 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with United Midwest Savings Bank, out of De Graff, Ohio. The loan was granted and they received $178,500 to help grow their Russells Poing, Ohio business.

SBA Loan Borrower

COMPANY TYPE: BOAT DEALERS
RUSSELLS POING, OH 43358

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and are well trained in SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441222 - Boat Dealers

Loan Approval Date

3/11/2002

Loan Approval Gross Amount

$178,500

Loan Approval from the SBA

Of the total $178,500 loan amount, the SBA guaranteed $133,875.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like United Midwest Savings Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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