Business Loans for Professional and Management Development Training

Looking for business loans for professional and management development training? Try the SBA. This $50,000 professional and management development training loan was issued by an Ohio bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with The Huntington National Bank, out of Salineville, Ohio. The loan was granted and they received $50,000 to help grow their Hudson, Ohio business.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL AND MANAGEMENT DEVELOPMENT TRAINING
HUDSON, OH 44236

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
10 E MAIN ST
SALINEVILLE, OH 43945

The lender provided this debt financing 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

611430 - Professional and Management Development Training

Loan Approval Date

5/12/2004

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs.

Next Steps for Getting an SBA Loan

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

The Friends and Family Network

Who Lends Money to Small Businesses in Salineville, Ohio

Getting an SBA Loan in Ohio