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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Youngstown, Business Loans > Home Savings & Loan Co - Youn Youngstown Business Loans > Painting And Wall Covering Contractors Loan | ||||
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Home Savings & Loan Co - Youn Warren, Ohio
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Warren, Ohio Business Gets SBA-Guaranteed Funding from Home Savings & Loan Co - YounHome Savings & Loan Co - Youn is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Home Savings & Loan Co - Youn, out of Youngstown, Ohio. The loan was granted and they received $50,000 to help grow their Warren, Ohio business. SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS SBA Loan Lender HOME SAVINGS & LOAN CO - YOUN This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238320 - Painting and Wall Covering Contractors Loan Approval Date 5/5/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Home Savings & Loan Co - Youn 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. Related Links: Realistic Debt Financing Options Small Business Banks in Youngstown, Ohio
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