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November 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Direct Property And Casualty Insurance Carriers Loan | ||||
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MN Business Loan from U.S. Bank National Association
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U.S. Bank National Association SBA Loan to Direct Property And Casualty Insurance Carriers CompanyAn SBA loan from U.S. Bank National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Minneapolis, Minnesota business owner got a $24,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $24,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $12,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: DIRECT PROPERTY AND CASUALTY INSURANCE CARRIERS 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 524126 - Direct Property and Casualty Insurance Carriers Loan Approval Date 8/3/2006 Loan Approval Gross Amount $24,000 Loan Approval from the SBA Of the total $24,000 loan amount, the SBA guaranteed $12,000. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into U.S. Bank National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Raising VC Money for Social Networking Companies SBA 7A Banks for Cincinnati, Ohio Loans
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