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November 25, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Beauty Salons Loan | ||||
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Ohio SBA Banks
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Entrepreneur Works With Cleveland, Ohio Bank to Get an SBA LoanA Cleveland, Ohio SBA loan can be yours. Learn how a business got a $35,000 business loan from this Ohio bank. This loan to an entrepreneur is a good example of an SBA loan. National City Bank made the loan and the SBA guaranteed a portion of the loan. Many other Ohio entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender NATIONAL CITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 812112 - Beauty Salons Loan Approval Date 12/7/2006 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding. While you may be able to borrow money from friends and family, 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: Realistic Debt Financing Options SBA Participating Banks in Cleveland, Ohio
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