Where to Get Capital for Business Support Services

With these small business loans for business support services, the SBA guarantees the lender that the loan will be repaid. This business support services loan for $79,500 was given to an Ohio entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cortland, Ohio was able to borrow $79,500 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $63,600 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: SECRETARIAL AND COURT REPORTING SERVICES
CORTLAND, OH 44410

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
10 E MAIN ST
SALINEVILLE, OH 43945

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

7338 - Secretarial and Court Reporting Services

NAICS Code

561499 - Business Support Services

Loan Approval Date

11/13/2000

Loan Approval Gross Amount

$79,500

Loan Approval from the SBA

Of the total $79,500 loan amount, the SBA guaranteed $63,600.

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 15 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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 $79,500 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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