Millersburg, Ohio Lender Lends Money to Racetracks Company

Get to know Millersburg, Ohio banks that specialize in business loans and know how to work with entrepreneurs. Comm. & Savings Bank - Millersb is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Millersburg, Ohio starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Comm. & Savings Bank - Millersb. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: RACETRACKS
MILLERSBURG, OH 44654

SBA Loan Lender

COMM. & SAVINGS BANK - MILLERSB
91 N CLAY ST
MILLERSBURG, OH 44654

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

711212 - Racetracks

Loan Approval Date

12/10/2007

Loan Approval Gross Amount

$128,000

Loan Approval from the SBA

Of the total $128,000 loan amount, the SBA guaranteed $64,000.

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 generate 2 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 $128,000 loan. Remember, feel the fear, and do it anyway.

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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