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May 5, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Columbus, Business Loans > First Community Bank Columbus Business Loans > Automotive Services Loan | ||||
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Ohio Bank SBA Loans
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First Community Bank SBA Loan to Automotive Services CompanyWant an Ohio business loan? Here's one Ohio business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in West Chester, Ohio, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was First Community Bank, based in Columbus, Ohio. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE SERVICES SBA Loan Lender FIRST COMMUNITY BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7549 - Automotive Services Loan Approval Date 1/13/2000 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $97,500. 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 11 employees. The loan application did not indicate that the 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 loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $130,000. How would you spend $130,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Banking Deregulation's Effects on Entrepreneurship Small Business Banks in Columbus, Ohio
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