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May 7, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Beachwood, Business Loans > Ohio Commerce Bank Beachwood Business Loans > Metalworking Machinery Manufacturing Loan | ||||
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Raising Money in Cleveland, Ohio With SBA Loans
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Cleveland, Ohio Entrepreneur Gets a Business LoanOhioSBA loans are available to Ohio entrepreneurs through the SBA. In this case, an Ohio bank provides the loan. You can learn something about getting a small business loan in Cleveland, Ohio by studying this loan to a local business, made back in 2006. Banks like Ohio Commerce Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: METALWORKING MACHINERY MANUFACTURING SBA Loan Lender OHIO COMMERCE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333518 - Metalworking Machinery Manufacturing Loan Approval Date 10/17/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Ohio Commerce Bank 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: SBA 7A Lenders in Beachwood, Ohio
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