Where to Get Capital for Prerecorded Tape, Compact Disc, and Record Stores

With these small business loans for prerecorded tape, compact disc, and record stores, the SBA guarantees the lender that the loan will be repaid. This prerecorded tape, compact disc, and record stores loan for $130,000 was given to an Ohio entrepreneur in 2001.

Getting a small business loan in Oberlin, Ohio was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The Lorain National Bank, operating out of Lorain, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: RECORD AND PRERECORDED TAPE STORES
OBERLIN, OH 44074

SBA Loan Lender

THE LORAIN NATIONAL BANK
457 BROADWAY
LORAIN, OH 44052

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5735 - Record and Prerecorded Tape Stores

NAICS Code

451220 - Prerecorded Tape, Compact Disc, and Record Stores

Loan Approval Date

8/20/2001

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

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 4 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Oberlin OH, you ought to talk with a local Oberlin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oberlin 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 $130,000 loan. Remember, things become real when you believe you can achieve them!

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.

Best Banks for Small Business in Lorain, Ohio

Ohio SBA Bank Lenders

Raising Money in Oberlin, Ohio With SBA Loans

Where to Get Capital for Prerecorded Tape, Compact Disc, and Record Stores