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April 29, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Akron, Business Loans > Firstmerit Bank Akron Business Loans > Computer, Peripheral Equipment And Software Merchant Wholesaler Loan | ||||
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We Needed an SBA Loan in Fredericksburg, Ohio and We Got One!
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Computer, Peripheral Equipment and Software Merchant Wholesaler Small Business LoansLooking for small business loans for computer, peripheral equipment and software merchant wholesaler? Try the SBA. This $60,000 computer, peripheral equipment and software merchant wholesaler loan was issued by an Ohio bank. This company knew how to go about getting a business bank loan. Based in Fredericksburg, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Firstmerit Bank, based in Akron, Ohio. SBA Loan Borrower COMPANY TYPE: COMPUTER, PERIPHERAL EQUIPMENT AND SOFTWARE MERCHANT WHOLESALER SBA Loan Lender FIRSTMERIT BANK This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 423430 - Computer, Peripheral Equipment and Software Merchant Wholesaler Loan Approval Date 6/22/2005 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. 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. The loan application indicated that the loan would help generate 12 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 Firstmerit 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 - Getting Venture Capital
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