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May 14, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > New Richmond, Business Loans > Riverhills Bank New Richmond Business Loans > Site Preparation Contractors Loan | ||||
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Riverhills Bank
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Business Loan from Riverhills Bank Given to Site Preparation Contractors CompanyRiverhills Bank has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Riverhills Bank, out of New Richmond, Ohio. The loan was granted and they received $182,700 to help grow their Milford, Ohio business. SBA Loan Borrower COMPANY TYPE: SITE PREPARATION CONTRACTORS SBA Loan Lender RIVERHILLS BANK 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 238910 - Site Preparation Contractors Loan Approval Date 6/19/2007 Loan Approval Gross Amount $182,700 Loan Approval from the SBA Of the total $182,700 loan amount, the SBA guaranteed $91,350. 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 37 employees. The loan application indicated that the loan would help retain 37 existing jobs. Next Steps for Getting an SBA Loan 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. 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 Riverhills 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: Best Banks for Small Business in New Richmond, Ohio Getting a Business Loan in Ohio
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