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May 6, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Lancaster, Business Loans > Fairfield National Bank A Division Lancaster Business Loans > Machine Tools, Metal Forming Types Loan | ||||
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Banks in Lancaster, Ohio That Make SBA Loans
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Entrepreneur Works With Lancaster, Ohio Bank to Get an SBA LoanA Lancaster, Ohio SBA loan can be yours. Learn how a company got a $150,000 business loan from this Ohio bank. This loan to an entrepreneur is a good example of an SBA loan. Fairfield National Bank A Division made the loan and the SBA guaranteed a portion of the loan. Many other Ohio entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: MACHINE TOOLS, METAL FORMING TYPES SBA Loan Lender FAIRFIELD NATIONAL BANK A DIVISION The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3542 - Machine Tools, Metal Forming Types NAICS Code 333513 - Machine Tool Manufacturing Loan Approval Date 3/23/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. While you may be able to borrow money from friends and family, 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. Related Links: Obtaining Funding - How to Decide How Much to Raise Find an SBA Lender in Lancaster, Ohio
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