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April 29, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Medina, Business Loans > Western Reserve Bank Medina Business Loans > Machine Shops Loan | ||||
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Western Reserve Bank Parma
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Business Loan from Western Reserve Bank Given to Machine Shops CompanyAn SBA loan from Western Reserve Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Parma, Ohio business owner got a $150,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Parma, Ohio was able to borrow $150,000 from Western Reserve Bank. The SBA made the loan possible by guaranteeing $75,000 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender WESTERN RESERVE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 332710 - Machine Shops Loan Approval Date 4/1/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 22 employees. The SBA loan documents indicated that the loan would help retain 22 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. We can help you find the best banks for small businesses in Parma or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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:
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