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May 4, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > North Olmsted, Business Loans > Ups Capital Business Credit North Olmsted Business Loans > Machine Shops Loan | ||||
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Getting SBA Loans from Ups Capital Business Credit
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SBA Loan from Ups Capital Business Credit Helps Machine Shops CompanyUps Capital Business Credit and the SBA work together to get business loans for growing small businesses. Here's an example of how an Ohio entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Miami, Ohio was able to borrow $1,000,000 from Ups Capital Business Credit. The SBA made the loan possible by guaranteeing $750,000 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender UPS CAPITAL BUSINESS CREDIT When it made this small business loan, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to ensure rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 12/1/2000 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Ups Capital Business Credit so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: The Friends and Family Network Find an SBA Lender in North Olmsted, Ohio
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