Loans for Perishable Prepared Food Manufacturing

With these loans for perishable prepared food manufacturing, the SBA guarantees the lender that the loan will be repaid. This perishable prepared food manufacturing loan for $1,543,000 was given to an Ohio entrepreneur in 2004.

Getting a small business loan in Van Wert, Ohio was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Fed. Bank - Midwest, operating out of Defiance, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: PERISHABLE PREPARED FOOD MANUFACTURING
VAN WERT, OH 45891

SBA Loan Lender

FIRST FED. BANK - MIDWEST
601 CLINTON ST
DEFIANCE, OH 43512

This lender issued this SBA business loan under the SBA 7A lending 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

311991 - Perishable Prepared Food Manufacturing

Loan Approval Date

1/7/2004

Loan Approval Gross Amount

$1,543,000

Loan Approval from the SBA

Of the total $1,543,000 loan amount, the SBA guaranteed $999,864.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 52 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Van Wert OH, you ought to talk with a local Van Wert SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Van Wert businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Borrowing Money from Friends and Family

Small Business Banks in Defiance, Ohio

SBA Ohio Lenders