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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 Bank Akron Business Loans > Passenger Car Rental Loan | ||||
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Raising Money in Atwater, Ohio With SBA Loans
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Financing for Passenger Car RentalLooking for loans for passenger car rental? The SBA may be the answer. This $112,500 passenger car rental loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Atwater, Ohio was able to borrow $112,500 from Firstmerit Bank. The SBA made the loan possible by guaranteeing $56,250 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: PASSENGER CAR RENTAL SBA Loan Lender FIRSTMERIT BANK 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 532111 - Passenger Car Rental Loan Approval Date 12/8/2006 Loan Approval Gross Amount $112,500 Loan Approval from the SBA Of the total $112,500 loan amount, the SBA guaranteed $56,250. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $112,500 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Banking Deregulation's Effects on Entrepreneurship
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