Raising Money for Hardware Wholesalers
Looking for bank loans for hardware wholesalers? Try the SBA. This $1,687,500 hardware wholesalers loan was issued by an Ohio bank.
This company knew how to go about getting a business bank loan. Based in Eden Prairie, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was U.S. Bank National Association, based in Cincinnati, Ohio.
SBA Loan Borrower
COMPANY TYPE: HARDWARE WHOLESALERS
EDEN PRAIRIE, MN 55344
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
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
421710 - Hardware Wholesalers
Loan Approval Date
1/23/2002
Loan Approval Gross Amount
$1,687,500
Loan Approval from the SBA
Of the total $1,687,500 loan amount, the SBA guaranteed $999,995.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 16 employees. The loan application indicated that the loan would help retain 16 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:
Business Cash Advances
SBA Participating Banks in Cincinnati, Ohio
Getting an SBA Loan in Ohio