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May 1, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Columbus, Business Loans > Heartland Bank Columbus Business Loans > Automotive Glass Replacement Shops Loan | ||||
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Tips for Business Owners On Getting a Loan
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Business Loans for Automotive Glass Replacement ShopsLooking for business loans for automotive glass replacement shops? An SBA loan may be just what you've been looking for. This $40,635 automotive glass replacement shops loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hilliard, Ohio was able to borrow $40,635 from Heartland Bank. The SBA made the loan possible by guaranteeing $34,540 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE GLASS REPLACEMENT SHOPS SBA Loan Lender HEARTLAND BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811122 - Automotive Glass Replacement Shops Loan Approval Date 4/28/2005 Loan Approval Gross Amount $40,635 Loan Approval from the SBA Of the total $40,635 loan amount, the SBA guaranteed $34,540. 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 6 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Good Banks for Small Business in Columbus, Ohio
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