Ohio Small Business Loan Issued to General Freight Trucking, Local Company

SBA loans in Ohio are tough to come by these days. We take a look at one Ohio SBA loan, provided by an Ohio bank, that was approved by the SBA.

You can learn something about getting a small business loan in Wooster, Ohio by studying this loan to a local business, made back in 2004. Banks like National City Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
WOOSTER, OH 44691

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

8/9/2004

Loan Approval Gross Amount

$218,100

Loan Approval from the SBA

Of the total $218,100 loan amount, the SBA guaranteed $109,050.

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 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $218,100 loan. Remember, anyone can do it... so why not you?

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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