Westerville, Ohio Entrepreneur Gets a Business Loan

Would an Ohio small business loan help your small business to grow and prosper? If so, you may want to talk with this Ohio bank, which offers SBA loans to Ohio entrepreneurs.

Getting a small business loan in Westerville, Ohio was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from United Midwest Savings Bank. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: NATURAL GAS DISTRIBUTION
WESTERVILLE, OH 43081

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

This lender issued this SBA business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

221210 - Natural Gas Distribution

Loan Approval Date

8/13/2001

Loan Approval Gross Amount

$364,410

Loan Approval from the SBA

Of the total $364,410 loan amount, the SBA guaranteed $273,308.

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 2 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Midwest Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Midwest Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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