Cincinnati, Ohio Bank Lends Money to Full-Service Restaurants Company in Mount Ayr, Iowa
Get to know Cincinnati, Ohio banks that specialize in 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 Mount Ayr, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local business 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: FULL-SERVICE RESTAURANTS
MOUNT AYR, IA 50854
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
3/22/2001
Loan Approval Gross Amount
$45,000
Loan Approval from the SBA
Of the total $45,000 loan amount, the SBA guaranteed $38,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 5 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
We can help you find the best banks for small businesses in Mount Ayr or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
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Banks in Cincinnati, Ohio
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