Youngstown, 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.

This business, based in Youngstown, 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 Cortland Savings & Bank Co.. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: ACCOUNTING, AUDITING, AND BOOKKEEPING SERVICES
YOUNGSTOWN, OH 44511

SBA Loan Lender

CORTLAND SAVINGS & BANK CO.
194 W MAIN ST
CORTLAND, OH 44410

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8721 - Accounting, Auditing, and Bookkeeping Services

Loan Approval Date

8/21/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $80,000. How would you spend $80,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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