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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Medina, Business Loans > Western Reserve Bank Medina Business Loans > Beauty Salons Loan | ||||
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Western Reserve Bank Small Business Loans Strongsville, Ohio
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Western Reserve Bank SBA Loan to Beauty Salons CompanyAn SBA loan from Western Reserve Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Strongsville, Ohio business owner got a $50,000 loan. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Western Reserve Bank, out of Medina, Ohio. The loan was granted and they received $50,000 to help grow their Strongsville, Ohio business. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender WESTERN RESERVE BANK 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. NAICS Code 812112 - Beauty Salons Loan Approval Date 7/6/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 small business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. We can help you find the best banks for small businesses in Strongsville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA Participating Banks in Medina, Ohio
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