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May 4, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Zanesville, Business Loans > The Huntington National Bank Zanesville Business Loans > Scrap And Waste Materials Loan | ||||
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Columbus, Ohio Bank Loan
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Small Business Loans for Materials Recovery FacilitiesLooking for small business loans for materials recovery facilities? The SBA may be the answer. This $1,225,000 materials recovery facilities loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbus, Ohio was able to borrow $1,225,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $918,750 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: SCRAP AND WASTE MATERIALS SBA Loan Lender THE HUNTINGTON NATIONAL BANK When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to provide speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5093 - Scrap and Waste Materials NAICS Code 562920 - Materials Recovery Facilities Loan Approval Date 8/14/2001 Loan Approval Gross Amount $1,225,000 Loan Approval from the SBA Of the total $1,225,000 loan amount, the SBA guaranteed $918,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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