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May 6, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Middlefield, Business Loans > Middlefield Bank Co Middlefield Business Loans > General Automotive Repair Loan | ||||
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Middlefield Bank Co SBA Loans
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Where to Get Capital for General Automotive RepairLooking for small business loans for general automotive repair? Talk to a banker who works with the SBA. This $106,000 general automotive repair loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ravenna, Ohio was able to borrow $106,000 from Middlefield Bank Co. The SBA made the loan possible by guaranteeing $90,100 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender MIDDLEFIELD BANK CO This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/22/2004 Loan Approval Gross Amount $106,000 Loan Approval from the SBA Of the total $106,000 loan amount, the SBA guaranteed $90,100. 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 only one employee. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $106,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA Participating Banks in Middlefield, Ohio
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