Ohio Bank Loan Issued to Optometrists Company

Business loans in Ohio are are few and far betweeen these days. We take a look at one Ohio business loan, provided by a California bank, that was approved by the SBA.

This business, based in Cambridge, 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 Vision One Cu. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: OPTOMETRISTS
CAMBRIDGE, OH 43725

SBA Loan Lender

VISION ONE CU
3279 RAMOS CIR
SACRAMENTO, CA 95827

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

621320 - Optometrists

Loan Approval Date

1/14/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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