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April 29, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > Highway And Street Construction Loan | ||||
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SBA Lenders That Lend to Ohio Business Owners
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Firm Gets an Ohio Bank LoanOhioSmall business loans are available to Ohio small business owners through the SBA. In this case, an Indiana bank provides the loan. By giving the right information to National City Bank, this Dublin, Ohio business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION SBA Loan Lender NATIONAL CITY BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring 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. SIC Code 1611 - Highway and Street Construction NAICS Code 234110 - Highway and Street Construction Loan Approval Date 4/17/2002 Loan Approval Gross Amount $44,700 Loan Approval from the SBA Of the total $44,700 loan amount, the SBA guaranteed $37,995. 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 15 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $44,700 loan. Remember, things become real when you believe you can achieve them! 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: Small Bank Loans in Indianapolis, Indiana
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