Ohio Business Loan Issued to Sporting Goods Stores Company

Small business loans in Ohio are hard to find these days. We take a look at one Ohio small business loan, provided by an Ohio bank, that was approved by the SBA.

This business, based in West Carrollton, Ohio, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from River Valley Cu. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
WEST CARROLLTON, OH 45449

SBA Loan Lender

RIVER VALLEY CU
505 EARL BLVD
MIAMISBURG, OH 45342

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

3/8/2007

Loan Approval Gross Amount

$695,000

Loan Approval from the SBA

Of the total $695,000 loan amount, the SBA guaranteed $521,250.

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 24 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 14 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Miamisburg, Ohio

Where to Get an SBA Loan Ohio