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May 16, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Akron, Business Loans > Firstmerit Commun Devel Corp Akron Business Loans > Adjustment And Collection Services Loan | ||||
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Akron SBA Loans
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Local Business Gets an Ohio SBA LoanWant an Ohio business loan? This Ohio entrepreneur got a business loan, provided by an Ohio bank that works with the SBA to help small business owners. Getting a small business loan in Akron, Ohio was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Firstmerit Commun Devel Corp. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: ADJUSTMENT AND COLLECTION SERVICES SBA Loan Lender FIRSTMERIT COMMUN DEVEL CORP This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7322 - Adjustment and Collection Services NAICS Code 561440 - Collection Agencies Loan Approval Date 4/29/2003 Loan Approval Gross Amount $58,500 Loan Approval from the SBA Of the total $58,500 loan amount, the SBA guaranteed $49,725. 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 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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. Related Links:
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