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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Lorain, Business Loans > The Lorain National Bank Lorain Business Loans > Personal Services Loan | ||||
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I Need Commercial Loans in Vermilion, Ohio
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Personal Services SBA LoansWith these SBA loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $150,000 was given to an Ohio entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vermilion, Ohio was able to borrow $150,000 from The Lorain National Bank. The SBA made the loan possible by guaranteeing $112,500 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender THE LORAIN NATIONAL BANK This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812990 - Personal Services Loan Approval Date 4/19/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 2 employees. The loan application indicated that the funding would help create 2 new jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Find an SBA Lender in Lorain, Ohio
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