Local Business Gets an Ohio SBA Loan

Looking to get 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.

Getting a small business loan in Morrow, Ohio was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS
MORROW, OH 45152

SBA Loan Lender

FIFTH THIRD BANK
110 N MAIN ST
DAYTON, OH 45402

When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program is designed to ensure fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5023 - Homefurnishings

NAICS Code

421220 - Home Furnishing Wholesalers

Loan Approval Date

7/31/2002

Loan Approval Gross Amount

$1,158,000

Loan Approval from the SBA

Of the total $1,158,000 loan amount, the SBA guaranteed $868,500.

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 50 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $1,158,000. How would you spend $1,158,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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