SBA Loan from Citizens Bank Helps Furniture Stores Company

An SBA loan from Citizens Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a North Olmsted, Ohio business owner got a $711,000 loan.

Getting a small business loan in North Olmsted, Ohio was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank, operating out of Pepper Pike, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
NORTH OLMSTED, OH 44070

SBA Loan Lender

CITIZENS BANK
29225 CHAGRIN BLVD
PEPPER PIKE, OH 44124

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

6/4/2002

Loan Approval Gross Amount

$711,000

Loan Approval from the SBA

Of the total $711,000 loan amount, the SBA guaranteed $533,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 16 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 16 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

SBIR Funding

Find an SBA Lender in Pepper Pike, Ohio

Ohio SBA 7A Lenders