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April 27, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Akron, Business Loans > Firstmerit Bank Akron Business Loans > Beauty Salons Loan | ||||
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Firstmerit Bank Commercial Loans
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Borrowing Money for Beauty SalonsLooking for bank loans for beauty salons? Try the SBA. This $181,400 beauty salons loan was issued by an Ohio bank. This small firm knew how to go about getting a business bank loan. Based in Wadsworth, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Firstmerit Bank, based in Akron, Ohio. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender FIRSTMERIT BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 5/31/2007 Loan Approval Gross Amount $181,400 Loan Approval from the SBA Of the total $181,400 loan amount, the SBA guaranteed $136,050. 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 no employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Firstmerit Bank and they will explain how you can get an SBA loan for your company. 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: Best Akron, Ohio Banks for Small Business
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