The Citizens Savings Bank Gives Bank Loan to Business Services Company

Business loans in Ohio are hard to find these days. We take a look at one Ohio business loan, provided by an Ohio bank, that was approved by the SBA.

This company, based in St.Clairsville, Ohio, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Citizens Savings Bank. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
ST.CLAIRSVILLE, OH 43950

SBA Loan Lender

THE CITIZENS SAVINGS BANK
201 S 4TH AT HICKORY
MARTINS FERRY, OH 43935

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

4/28/2003

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Citizens 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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