Business Loan from U.S. Bank National Association Given to Scientific And Technical Consulting Services Company

U.S. Bank National Association has a track record as a leading provider of SBA loans. Find out how this Missouri entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Lake St. Louis, Missouri, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was U.S. Bank National Association, based in Cincinnati, Ohio.

SBA Loan Borrower

COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES
LAKE ST. LOUIS, MO 63367

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

541690 - Scientific and Technical Consulting Services

Loan Approval Date

4/25/2003

Loan Approval Gross Amount

$309,300

Loan Approval from the SBA

Of the total $309,300 loan amount, the SBA guaranteed $231,975.

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 3 employees. The loan application indicated that the loan would help create 3 new jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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SBA 7A Banks in Cincinnati, Ohio

Where to Get an SBA Loan Ohio