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May 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Parma, Business Loans > American National Bank Parma Business Loans > Metal Window And Door Manufacturing Loan | ||||
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Business Loans for Twinsburg Business Owners
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Metal Window and Door Manufacturing Bank LoansWith these bank loans for metal window and door manufacturing, the SBA guarantees the lender that the loan will be repaid. This metal window and door manufacturing loan for $325,000 was given to an Ohio entrepreneur in 2001. This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with American National Bank, out of Parma, Ohio. The loan was granted and they received $325,000 to help grow their Twinsburg, Ohio business. SBA Loan Borrower COMPANY TYPE: METAL WINDOW AND DOOR MANUFACTURING SBA Loan Lender AMERICAN NATIONAL BANK This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332321 - Metal Window and Door Manufacturing Loan Approval Date 8/10/2001 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. 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 25 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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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