Ohio Small Business Loan Issued to Offices And Clinics Of Dentists Company

OhioBank loans are available to Ohio firms through the SBA. In this case, an Ohio bank provides the loan.

This small business, based in Westlake, 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 Firstmerit Bank. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DENTISTS
WESTLAKE, OH 44012

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8021 - Offices and Clinics of Dentists

NAICS Code

621210 - Dentists

Loan Approval Date

11/29/2002

Loan Approval Gross Amount

$124,800

Loan Approval from the SBA

Of the total $124,800 loan amount, the SBA guaranteed $106,080.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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