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April 28, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Columbus, Business Loans > The Park National Bank Columbus Business Loans > Car Washes Loan | ||||
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Ohio Small Business SBA Loans
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The Park National Bank Gives SBA Loan to Car Washes CompanyOhioBusiness loans are available to Ohio business owners through the SBA. In this case, an Ohio bank provides the loan. This small business, based in Blacklick, Ohio, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Park National Bank. We've got the inside scoop on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender THE PARK NATIONAL BANK 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. NAICS Code 811192 - Car Washes Loan Approval Date 8/26/2002 Loan Approval Gross Amount $13,500 Loan Approval from the SBA Of the total $13,500 loan amount, the SBA guaranteed $11,475. 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 4 employees. The loan application did not indicate that the SBA funding recipient promised 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 guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Role of Business Plan When Raising Money Best Columbus, Ohio Banks for Small Business
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