Cincinnati, Ohio Bank Gives SBA Loan to Plastics Product Manufacturing Company
Get to know Cincinnati, Ohio banks that specialize in small business loans and know how to work with entrepreneurs. U.S. Bank National Association is one such bank, as evidenced by this SBA loan to a growing company.
Finding a small business loan in Holly, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from U.S. Bank National Association. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING
HOLLY, MI 48442
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
326199 - Plastics Product Manufacturing
Loan Approval Date
5/4/2001
Loan Approval Gross Amount
$935,000
Loan Approval from the SBA
Of the total $935,000 loan amount, the SBA guaranteed $701,250.
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 50 employees. The SBA loan application for the borrower indicated that the loan would help retain 50 existing jobs.
Next Steps for Getting an SBA Loan
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.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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 Credit Cards
Small Bank Loans in Cincinnati, Ohio
Ohio SBA 7A Lenders