SBA Loan from The Huntington National Bank Helps Petroleum And Petroleum Products Wholesalers Company

An SBA loan from The Huntington National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Wakeman, Ohio business owner got a $400,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wakeman, Ohio was able to borrow $400,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $300,000 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS WHOLESALERS
WAKEMAN, OH 44889

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
108 MAIN AVE SW
WARREN, OH 44482

This SBA business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422720 - Petroleum and Petroleum Products Wholesalers

Loan Approval Date

3/13/2002

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 15 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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