Cfbank SBA Loan to Ice Cream And Frozen Dessert Manufacturing Company

An SBA loan from Cfbank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stow, Ohio business owner got a $150,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Cfbank, out of Fairlawn, Ohio. The loan was granted and they received $150,000 to help grow their Stow, Ohio business.

SBA Loan Borrower

COMPANY TYPE: ICE CREAM AND FROZEN DESSERT MANUFACTURING
STOW, OH 44224

SBA Loan Lender

CFBANK
2923 SMITH RD
FAIRLAWN, OH 44333

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.

NAICS Code

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 12 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Choosing VC Firms

Banks in Fairlawn, Ohio

Browse All Business Loan Sources for Ohio