 |
 |
May 19, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Ohio Business Loan Sources > Warren, Business Loans > The Huntington National Bank Warren Business Loans > General Automotive Repair Shops Loan | ||||
 |
||||
Who Can Get a Business Loan in Akron, Ohio?
|
||||
 |
Business Loans for General Automotive RepairLooking for business loans for general automotive repair? The SBA may be the answer. This $16,000 general automotive repair loan was issued by an Ohio bank. This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with The Huntington National Bank, out of Warren, Ohio. The loan was granted and they received $16,000 to help grow their Akron, Ohio business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender THE HUNTINGTON NATIONAL BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 10/3/2001 Loan Approval Gross Amount $16,000 Loan Approval from the SBA Of the total $16,000 loan amount, the SBA guaranteed $13,600. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Small Bank Loans in Warren, Ohio
|
|
||
|
||||
|
|
||||