Ohio Small Business Loan Issued to Special Trade Contractors Company

Searching for an Ohio business loan? This Ohio entrepreneur got a business loan, provided by an Ohio bank that works with the SBA to help small business owners.

This company, based in Elyria, Ohio, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Lorain National Bank. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
ELYRIA, OH 44035

SBA Loan Lender

THE LORAIN NATIONAL BANK
457 BROADWAY
LORAIN, OH 44052

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

4/10/2001

Loan Approval Gross Amount

$79,000

Loan Approval from the SBA

Of the total $79,000 loan amount, the SBA guaranteed $39,500.

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 4 employees. The SBA loan documents indicated that the loan would help create 2 new jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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Ohio Small Business Loan Issued to Special Trade Contractors Company