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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Used Car Dealers Loan | ||||
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Cincinnati, Ohio SBA 7A Banks
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Cincinnati, Ohio Bank Gives SBA Loan to Used Car Dealers CompanyWant to talk with a Cincinnati, Ohio bank about a business loan? Here's one Iowa business loan, issued by a Cincinnati bank, that was approved by the SBA. Applying for an SBA loan with U.S. Bank National Association worked out well for our friends at one local business in Council Bluffs, Iowa. They got an SBA loan for $25,000. Way to go! SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 441120 - Used Car Dealers Loan Approval Date 12/5/2003 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in 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. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $25,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - Friends and Family Small Business Banks in Cincinnati, Ohio
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