Business Loan from The Huntington National Bank Given to Aluminum Extruded Product Manufacturing Company

An SBA loan from The Huntington National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Niles, Ohio business owner got a $500,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Niles, Ohio, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was The Huntington National Bank, based in Salineville, Ohio.

SBA Loan Borrower

COMPANY TYPE: ALUMINUM EXTRUDED PRODUCT MANUFACTURING
NILES, OH 44446

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331316 - Aluminum Extruded Product Manufacturing

Loan Approval Date

6/4/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 25 employees. The SBA loan documents indicated that the borrowed money would help create 25 new jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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