Urbana, Ohio Business Gets SBA-Guaranteed Funding from The Citizens Banking Company

An SBA loan from The Citizens Banking Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Urbana, Ohio business owner got a $2,450,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Urbana, Ohio was able to borrow $2,450,000 from The Citizens Banking Company. The SBA made the loan possible by guaranteeing $1,499,890 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: NATURAL GAS DISTRIBUTION
URBANA, OH 43078

SBA Loan Lender

THE CITIZENS BANKING COMPANY
601 SCIOTO ST
URBANA, OH 43078

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

221210 - Natural Gas Distribution

Loan Approval Date

7/5/2007

Loan Approval Gross Amount

$2,450,000

Loan Approval from the SBA

Of the total $2,450,000 loan amount, the SBA guaranteed $1,499,890.

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 13 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Citizens Banking Company and they will explain how you can get an SBA loan for your company.

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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