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May 7, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Kenton, Business Loans > Liberty National Bank Kenton Business Loans > Physical, Occupational And Speech Therapists, And Audiologists Loan | ||||
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Raising Money in Kenton, Ohio With SBA Loans
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Raising Money for Physical, Occupational and Speech Therapists, and AudiologistsLooking for business loans for physical, occupational and speech therapists, and audiologists? Talk to a banker who works with the SBA. This $365,000 physical, occupational and speech therapists, and audiologists loan was issued by an Ohio bank. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Liberty National Bank, out of Kenton, Ohio. The loan was granted and they received $365,000 to help grow their Kenton, Ohio business. SBA Loan Borrower COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS SBA Loan Lender LIBERTY NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621340 - Physical, Occupational and Speech Therapists, and Audiologists Loan Approval Date 11/30/2006 Loan Approval Gross Amount $365,000 Loan Approval from the SBA Of the total $365,000 loan amount, the SBA guaranteed $273,750. 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 only one employee. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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