Cincinnati, Ohio Entrepreneur Gets an SBA Loan

Would an Ohio bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Kentucky bank, which offers SBA loans to Ohio entrepreneurs.

Getting a small business loan in Cincinnati, Ohio was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from The Bank Of Kentucky, Inc. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE MERCHANT WHOLESALERS
CINCINNATI, OH 45227

SBA Loan Lender

THE BANK OF KENTUCKY, INC
111 LOOKOUT FARM DR
CRESTVIEW HILLS, KY 41017

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423210 - Furniture Merchant Wholesalers

Loan Approval Date

6/7/2007

Loan Approval Gross Amount

$606,500

Loan Approval from the SBA

Of the total $606,500 loan amount, the SBA guaranteed $454,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Bank Of Kentucky, Inc are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Raising VC Money for Social Networking Companies

SBA Approved Banks in Crestview Hills, Kentucky

SBA Lenders in Kentucky