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May 12, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Highway, Street, And Bridge Construction Loan | ||||
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SBA 7A Banks in Ohio
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Commercial Loans for Highway, Street, and Bridge ConstructionLooking for commercial loans for highway, street, and bridge construction? Talk to a banker who works with the SBA. This $170,000 highway, street, and bridge construction loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Middletown, Ohio was able to borrow $170,000 from National City Bank. The SBA made the loan possible by guaranteeing $85,000 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION SBA Loan Lender NATIONAL CITY BANK The lender provided this loan for a small business 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 237310 - Highway, Street, and Bridge Construction Loan Approval Date 3/13/2003 Loan Approval Gross Amount $170,000 Loan Approval from the SBA Of the total $170,000 loan amount, the SBA guaranteed $85,000. 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 8 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 8 existing jobs. Getting an SBA Loan For Your 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. While you may be able to find other ways to get money to start a business, 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: SBA 7A Banks in Cleveland, Ohio
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