Bank Loans for Hydroelectric Power Generation

With these bank loans for hydroelectric power generation, the SBA guarantees the lender that the loan will be repaid. This hydroelectric power generation loan for $95,000 was given to an Ohio entrepreneur in 2001.

Getting a small business loan in Sidney, Ohio was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First National Bank In New Bremen, operating out of Sidney, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRIC SERVICES
SIDNEY, OH 45365

SBA Loan Lender

FIRST NATIONAL BANK IN NEW BREMEN
347 RUSSELL RD
SIDNEY, OH 45365

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4911 - Electric Services

NAICS Code

221111 - Hydroelectric Power Generation

Loan Approval Date

3/6/2001

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

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 10 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank In New Bremen had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank In New Bremen 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.

Related Links:

Alternative Financing

Best Sidney, Ohio Banks for Small Business

Getting an SBA Loan in Ohio