National City Bank Gives Small Business Loan to Filhour's Family Market

Bank loans in Ohio are are few and far betweeen these days. We take a look at one Ohio bank loan, provided by an Ohio bank, that was approved by the SBA.

Getting a small business loan in Massillon, Ohio was a top priority for Filhour's Family Market back in 2001 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Ohio small business loan.

SBA Loan Borrower

FILHOUR'S FAMILY MARKET
1014 AMHERST RD NE
MASSILLON, OH 44646

SBA Loan Lender

NATIONAL CITY BANK
101 W MARKET ST
ORRVILLE, OH 44667

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

5/10/2001

Loan Approval Gross Amount

$29,930

Loan Approval from the SBA

Of the total $29,930 loan amount, the SBA guaranteed $25,440.

More Information on This SBA Loan

The borrower, Filhour's Family Market, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. This loan was paid in full, and was closed out on 3/4/2008.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Role of Business Plan When Raising Money

SBA Participating Banks in Orrville, Ohio

SBA Lenders in Ohio

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