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May 14, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Canton, Business Loans > The Huntington National Bank Canton Business Loans > Car Washes Loan | ||||
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OH Business Loans from The Huntington National Bank
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The Huntington National Bank SBA Loan to Car Washes CompanyThe Huntington National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Camden, Ohio was able to borrow $247,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $185,250 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender THE HUNTINGTON NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 6/25/2003 Loan Approval Gross Amount $247,000 Loan Approval from the SBA Of the total $247,000 loan amount, the SBA guaranteed $185,250. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from The Huntington National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Good Banks for Small Business in Canton, Ohio
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