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May 19, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Akron, Business Loans > Firstmerit Bank Akron Business Loans > Retail Bakeries Loan | ||||
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Firstmerit Bank
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Firstmerit Bank SBA Loan to Retail Bakeries CompanyFirstmerit Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans. This business knew how to go about getting a business bank loan. Based in Perrysburg, Ohio, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Firstmerit Bank, based in Akron, Ohio. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender FIRSTMERIT BANK 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 311811 - Retail Bakeries Loan Approval Date 11/22/2005 Loan Approval Gross Amount $284,200 Loan Approval from the SBA Of the total $284,200 loan amount, the SBA guaranteed $142,100. 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 10 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are raising money in Perrysburg OH, you ought to talk with a local Perrysburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Perrysburg 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 $284,200 loan. Remember, where there is a will, there is a way! 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:
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