Financing for Homes for the Elderly

Looking for loans for homes for the elderly? Talk to a banker who works with the SBA. This $395,700 homes for the elderly loan was issued by an Ohio bank.

Getting a small business loan in Uniontown, Ohio was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Firstmerit Bank, operating out of Akron, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMES FOR THE ELDERLY
UNIONTOWN, OH 44683

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

6/7/2005

Loan Approval Gross Amount

$395,700

Loan Approval from the SBA

Of the total $395,700 loan amount, the SBA guaranteed $296,775.

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 7 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

The Friends and Family Network

SBA 7A Banks in Akron, Ohio

Ohio SBA 7A Banks