Commercial Loans for Direct Selling Establishments

Looking for commercial loans for direct selling establishments? The SBA may be the answer. This $76,500 direct selling establishments loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Strongsville, Ohio was able to borrow $76,500 from Firstmerit Bank. The SBA made the loan possible by guaranteeing $38,250 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
STRONGSVILLE, OH 44149

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

6/30/2005

Loan Approval Gross Amount

$76,500

Loan Approval from the SBA

Of the total $76,500 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help create 3 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

SBA Banks in Akron, Ohio

SBA Ohio Banks