Get an SBA Loan for Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing

Looking for small business loans for lawn and garden tractor and home lawn and garden equipment manufacturing? Talk to a banker who works with the SBA. This $500,000 lawn and garden tractor and home lawn and garden equipment manufacturing loan was issued by an Ohio bank.

This company knew how to go about getting a business bank loan. Based in Orrville, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was National City Bank, based in Orrville, Ohio.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN TRACTOR AND HOME LAWN AND GARDEN EQUIPMENT MANUFACTURING
ORRVILLE, OH 44667

SBA Loan Lender

NATIONAL CITY BANK
101 W MARKET ST
ORRVILLE, OH 44667

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333112 - Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing

Loan Approval Date

2/27/2001

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 37 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

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

If you need money to start business in Orrville OH, you ought to talk with a local Orrville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Orrville 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 National City 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:

Family and Friend Investors - Your First Financiers

Where to Get an SBA Loan in Orrville, Ohio

Ohio SBA 7A Banks