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November 21, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Boat Dealers Loan | ||||
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SBA 7A Banks for Entrepreneurs in North Dakota
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U.S. Bank National Association Gives Small Business Loan to Boat Dealers CompanySmall business loans in North Dakota are tough to come by these days. We take a look at one North Dakota small business loan, provided by an Ohio bank, that was approved by the SBA. By giving the right information to U.S. Bank National Association, this Bismarck, North Dakota business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: BOAT DEALERS SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441222 - Boat Dealers Loan Approval Date 1/23/2001 Loan Approval Gross Amount $1,067,400 Loan Approval from the SBA Of the total $1,067,400 loan amount, the SBA guaranteed $800,550. 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 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 18 existing jobs. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money 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: How Much Venture Capital Is There? Best Cincinnati, Ohio Banks for Small Business Browse All Business Loan Sources for Ohio
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