Solon, Ohio Entrepreneur Gets a Business Loan

Business loans in Ohio are hard to find these days. We take a look at one Ohio business loan, provided by an Ohio bank, that was approved by the SBA.

Getting a small business loan in Solon, Ohio was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Liberty Bank. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: TOTALIZING FLUID METER AND COUNTING DEVICE MANUFACTURING
SOLON, OH 44139

SBA Loan Lender

LIBERTY BANK
2351 EDISON BLVD
TWINSBURG, OH 44087

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334514 - Totalizing Fluid Meter and Counting Device Manufacturing

Loan Approval Date

6/28/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 9 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Equity Financing

SBA 7A Banks for Twinsburg, Ohio Loans

Getting an SBA Loan in Ohio