Westerville, Ohio Business Gets SBA-Guaranteed Funding from Delaware Cnty Bank & Trust

An SBA loan from Delaware Cnty Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Westerville, Ohio business owner got a $141,200 loan.

This business knew how to go about getting a business bank loan. Based in Westerville, Ohio, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Delaware Cnty Bank & Trust, based in Lewis Center, Ohio.

SBA Loan Borrower

COMPANY TYPE: LEAD PENCILS, CRAYONS, AND ARTISTS' MATERIALS
WESTERVILLE, OH 43081

SBA Loan Lender

DELAWARE CNTY BANK & TRUST
110 RIVERBEND AVE
LEWIS CENTER, OH 43035

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3952 - Lead Pencils, Crayons, and Artists' Materials

NAICS Code

337127 - Institutional Furniture Manufacturing

Loan Approval Date

11/12/2002

Loan Approval Gross Amount

$141,200

Loan Approval from the SBA

Of the total $141,200 loan amount, the SBA guaranteed $120,020.

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 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Microlending as a Small Business Funding Source

SBA 7A Lenders in Lewis Center, Ohio

Getting a Business Loan in Ohio