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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Columbus, Business Loans > The Huntington National Bank Columbus Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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Ohio Bank SBA Loans
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Entrepreneur Works With Columbus, Ohio Bank to Get an SBA LoanA Columbus, Ohio business loan can be yours. Learn how a company got a $285,300 business loan from this Ohio bank. This loan to an entrepreneur is a good example of an SBA loan. The Huntington National Bank made the loan and the SBA guaranteed a portion of the loan. Many other Michigan entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender THE HUNTINGTON NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 9/28/2007 Loan Approval Gross Amount $285,300 Loan Approval from the SBA Of the total $285,300 loan amount, the SBA guaranteed $142,650. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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:
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