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May 1, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Lorain, Business Loans > The Lorain National Bank Lorain Business Loans > Shoe Stores Loan | ||||
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Banks Doing SBA Loans in Ohio
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Entrepreneur Works With Lorain, Ohio Bank to Get an SBA LoanA Lorain, Ohio business loan can be yours. Learn how a company got a $81,400 business loan from this Ohio bank. This loan to an entrepreneur is a good example of an SBA loan. The Lorain National Bank made the loan and the SBA guaranteed a portion of the loan. Many other Ohio 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: SHOE STORES SBA Loan Lender THE LORAIN NATIONAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448210 - Shoe Stores Loan Approval Date 12/30/2004 Loan Approval Gross Amount $81,400 Loan Approval from the SBA Of the total $81,400 loan amount, the SBA guaranteed $69,190. 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 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Lorain, Ohio
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