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April 19, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Parma, Business Loans > American National Bank Parma Business Loans > Commercial And Industrial Machinery And Equipment Rental And Leasing Loan | ||||
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Raising Money in Cleveland, Ohio With SBA Loans
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Ohio SBA Loan Issued to Commercial And Industrial Machinery And Equipment Rental And Leasing CompanyOhioBank loans are available to Ohio firms through the SBA. In this case, an Ohio bank provides the loan. You can learn something about getting a small business loan in Cleveland, Ohio by studying this loan to a local company, made back in 2003. Banks like American National Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING SBA Loan Lender AMERICAN NATIONAL BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing Loan Approval Date 7/11/2003 Loan Approval Gross Amount $900,000 Loan Approval from the SBA Of the total $900,000 loan amount, the SBA guaranteed $620,235. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 21 employees. This SBA loan request indicated that the borrowed money would help create 5 new jobs. Getting an SBA Loan For Your 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Friends and Family Small Business Banks in Parma, Ohio Getting a Business Loan in Ohio
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