SBA Loan from Key Community Bank Helps Residential Care Company

Key Community Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Ohio entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Dayton, Ohio was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Key Community Bank, operating out of Inver Grove Heights, Minnesota. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
DAYTON, OH 45417

SBA Loan Lender

KEY COMMUNITY BANK
5684 BISHOP AVE
INVER GROVE HEIGHTS, MN 55076

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

Loan Approval Date

8/17/2000

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $101,250.

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 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Key Community Bank and they will explain how you can get an SBA loan for your company.

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:

Getting a Small Business Loan

Best Banks in Inver Grove Heights, Minnesota

Getting a Business Loan in Minnesota