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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Washington, Business Loans > Natl Consumer Cooperative Washington Business Loans > Hardware Stores Loan | ||||
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Natl Consumer Cooperative
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Natl Consumer Cooperative SBA Loan to Hardware Stores CompanyNatl Consumer Cooperative is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cincinnati, Ohio was able to borrow $425,000 from Natl Consumer Cooperative. The SBA made the loan possible by guaranteeing $318,750 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: HARDWARE STORES SBA Loan Lender NATL CONSUMER COOPERATIVE The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5251 - Hardware Stores NAICS Code 444130 - Hardware Stores Loan Approval Date 5/27/2005 Loan Approval Gross Amount $425,000 Loan Approval from the SBA Of the total $425,000 loan amount, the SBA guaranteed $318,750. 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 42 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Natl Consumer Cooperative had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Natl Consumer Cooperative made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Business Banks in Washington, District of Columbia SBA District of Columbia Lenders
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