Cincinnati, Ohio Bank Gives SBA Loan to Painting And Wall Covering Company

A Cincinnati, Ohio SBA loan can be yours. Learn how a business got a $675,000 business loan from this Ohio bank.

This loan to an entrepreneur 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 South Dakota 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: PAINTING AND WALL COVERING
BRANDON, SD 57005

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a thorough understanding of SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235210 - Painting and Wall Covering

Loan Approval Date

12/7/2006

Loan Approval Gross Amount

$675,000

Loan Approval from the SBA

Of the total $675,000 loan amount, the SBA guaranteed $506,250.

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 15 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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