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March 29, 2024  
 
 
  Business Loan Information  
 

Cleveland, Ohio Bank for SBA Loans

 

 
Loan Census SBA Loan Info

Machine Shops Loans

Looking for loans for machine shops? The SBA may be the answer. This $50,000 machine shops loan was issued by an Ohio bank.

This small firm knew how to go about getting a business bank loan. Based in Cleveland, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Rbs Citizens, based in Cleveland, Ohio.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
CLEVELAND, OH 44114

SBA Loan Lender

RBS CITIZENS
1215 SUPERIOR AVE
CLEVELAND, OH 44114

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

332710 - Machine Shops

Loan Approval Date

5/19/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $50,000. How would you spend $50,000 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.

Related Links:

Debt Financing

SBA Approved Banks in Cleveland, Ohio

Ohio SBA 7A Banks