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December 22, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Women's Clothing Stores Loan | ||||
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Advice for Business Owners On Getting a Loan
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Financing for Women's Clothing StoresLooking for commercial loans for women's clothing stores? Talk to a banker who works with the SBA. This $25,000 women's clothing stores loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lewiston, Idaho was able to borrow $25,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $12,500 of this Idaho small business loan. SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 448120 - Women's Clothing Stores Loan Approval Date 12/21/2006 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. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help retain 7 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like U.S. Bank National Association and they will explain how you can get an SBA loan for your company. 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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