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May 2, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > Keybank National Association Cleveland Business Loans > Florists Loan | ||||
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How to Get SBA Loans in Toledo, Ohio
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Bank Loans for FloristsLooking for bank loans for florists? An SBA loan may be just what you've been looking for. This $10,000 florists loan was issued by an Ohio bank. Getting a small business loan in Toledo, Ohio was important for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Keybank National Association, operating out of Cleveland, Ohio. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender KEYBANK NATIONAL ASSOCIATION The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 6/12/2000 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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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