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May 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Youngstown, Business Loans > Home Savings & Loan Co - Youn Youngstown Business Loans > Podiatrists Loan | ||||
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Canfield, Ohio Bank for SBA Loans
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Raising Money for PodiatristsLooking for business loans for podiatrists? An SBA loan may be just what you've been looking for. This $89,000 podiatrists loan was issued by an Ohio bank. This business knew how to go about getting a business bank loan. Based in Canfield, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Home Savings & Loan Co - Youn, based in Youngstown, Ohio. SBA Loan Borrower COMPANY TYPE: PODIATRISTS SBA Loan Lender HOME SAVINGS & LOAN CO - YOUN This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621391 - Podiatrists Loan Approval Date 8/13/2004 Loan Approval Gross Amount $89,000 Loan Approval from the SBA Of the total $89,000 loan amount, the SBA guaranteed $75,650. 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 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Home Savings & Loan Co - Youn and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Banking Deregulation's Effects on Entrepreneurship Best Banks in Youngstown, Ohio
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