Entrepreneur Works With Cincinnati, Ohio Bank to Get an SBA Loan

Want to talk with a Cincinnati, Ohio bank about an SBA loan? Here's one Washington business loan, issued by a Cincinnati bank, that was approved by the SBA.

Applying for an SBA loan with U.S. Bank National Association worked out well for our friends at one local firm in Mountlake Terrace, Washington. They received an SBA loan for $192,000. Nice!

SBA Loan Borrower

COMPANY TYPE: OPTOMETRISTS
MOUNTLAKE TERRACE, WA 98043

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

621320 - Optometrists

Loan Approval Date

5/16/2005

Loan Approval Gross Amount

$192,000

Loan Approval from the SBA

Of the total $192,000 loan amount, the SBA guaranteed $144,000.

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 4 employees. This SBA loan request indicated that the loan would help retain 4 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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Banks in Cincinnati, Ohio

Ohio SBA Bank Lenders