National City Bank SBA Loan to Gift, Novelty, And Souvenir Stores Company

National City Bank has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with National City Bank, out of Cleveland, Ohio. The loan was granted and they received $215,000 to help grow their Youngstown, Ohio business.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
Youngstown, OH 44512

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

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

9/4/2007

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $107,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Youngstown OH, you ought to talk with a local Youngstown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Youngstown businesses.

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 $215,000 loan. Remember, things become real when you believe you can achieve them!

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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