Akron, Ohio Bank Lends Money to Sporting Goods Stores And Bicycle Shops Company in Ashland, Ohio
An Akron, Ohio business loan can be yours. Learn how a company got a $100,000 business loan from this Ohio bank.
This loan to a local firm is a good example of an SBA loan. Firstmerit 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: SPORTING GOODS STORES AND BICYCLE SHOPS
ASHLAND, OH 44805
SBA Loan Lender
FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5941 - Sporting Goods Stores and Bicycle Shops
NAICS Code
451110 - Sporting Goods Stores
Loan Approval Date
6/26/2001
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
If you need business start up money in Ashland OH, you ought to talk with a local Ashland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ashland businesses.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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:
Business Cash Advances
Where to Get an SBA Loan in Akron, Ohio
Getting a Business Loan in Ohio