Cincinnati, Ohio Lender Lends Money to Supermarkets And Grocery Stores Company
A Cincinnati, Ohio small business loan can be yours. Learn how a company got a $49,000 business loan from this Ohio bank.
This loan to a local firm is a good example of an SBA loan. U.S. Bank National Association made the loan and the SBA guaranteed a portion of the loan. Many other Tennessee entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
ANTIOCH, TN 37013
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
445110 - Supermarkets and Grocery Stores
Loan Approval Date
6/19/2007
Loan Approval Gross Amount
$49,000
Loan Approval from the SBA
Of the total $49,000 loan amount, the SBA guaranteed $24,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into U.S. Bank National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Attracting Investors
SBA Approved Banks in Cincinnati, Ohio
Getting an SBA Loan in Ohio