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May 11, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Warren, Business Loans > The Huntington National Bank Warren Business Loans > Laboratory Apparatus And Furniture Loan | ||||
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SBA Lender Ohio
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Business Loan from The Huntington National Bank Given to Laboratory Apparatus And Furniture CompanyThe Huntington National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in Willoughby, Ohio, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was The Huntington National Bank, based in Warren, Ohio. SBA Loan Borrower COMPANY TYPE: LABORATORY APPARATUS AND FURNITURE SBA Loan Lender THE HUNTINGTON NATIONAL BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3821 - Laboratory Apparatus and Furniture NAICS Code Loan Approval Date 9/30/2000 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $450,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Huntington National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: How Much Venture Capital Is There? SBA Approved Banks in Warren, Ohio
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