How to Get a Loan for Used Merchandise Stores

With these SBA loans for used merchandise stores, the SBA guarantees the lender that the loan will be repaid. This used merchandise stores loan for $80,000 was given to an Ohio entrepreneur in 2002.

Getting a small business loan in Orrville, Ohio was important for Norris Auction Gallery back in 2002 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Orrville, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

NORRIS AUCTION GALLERY
8684 E. LINCOLN WAY, SUITE D
ORRVILLE, OH 44667

SBA Loan Lender

NATIONAL CITY BANK
101 W MARKET ST
ORRVILLE, OH 44667

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

1/29/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower, Norris Auction Gallery, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

Norris Auction Gallery got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

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

Related Links:

Banking Deregulation's Effects on Entrepreneurship

SBA Banks in Orrville, Ohio

SBA Lenders in Ohio

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