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May 12, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Specialized Long-Distance Freight Trucking Loan | ||||
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Requirements for Businesses On Getting a Loan
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Specialized Long-Distance Freight Trucking LoansWith these loans for specialized long-distance freight trucking, the SBA guarantees the lender that the loan will be repaid. This specialized long-distance freight trucking loan for $102,000 was given to an Ohio entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bloomdale, Ohio was able to borrow $102,000 from National City Bank. The SBA made the loan possible by guaranteeing $51,000 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALIZED LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender NATIONAL CITY 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 484230 - Specialized Long-Distance Freight Trucking Loan Approval Date 2/27/2004 Loan Approval Gross Amount $102,000 Loan Approval from the SBA Of the total $102,000 loan amount, the SBA guaranteed $51,000. 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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Advice on Getting a Small Business Loan Good Banks for Small Business in Cleveland, Ohio
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