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May 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Akron, Business Loans > Firstmerit Bank Akron Business Loans > Used Car Dealers Loan | ||||
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Ohio SBA 7A Lenders
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Akron, Ohio Bank Lends Money to Used Car Dealers Company in Elyria, OhioFind Akron, Ohio banks that specialize in SBA loans and know how to work with entrepreneurs. Firstmerit Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Elyria, Ohio starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Firstmerit Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender FIRSTMERIT BANK The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 441120 - Used Car Dealers Loan Approval Date 1/18/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, 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. We can help you find the best banks for small businesses in Elyria or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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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