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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > General Long-Distance Freight Trucking Loan | ||||
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Banks Doing SBA Loans in Ohio
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Cincinnati, Ohio Lender Lends Money to General Long-Distance Freight Trucking CompanyThinking about meeting with a Cincinnati, Ohio bank about a business loan? Here's one California 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 company in South El Monte, California. The business was able to get an SBA loan for $427,500. Sweet! SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484121 - General Long-Distance Freight Trucking Loan Approval Date 2/13/2004 Loan Approval Gross Amount $427,500 Loan Approval from the SBA Of the total $427,500 loan amount, the SBA guaranteed $320,625. 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 21 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Obtaining Funding - Friends and Family Good Banks for Small Business in Cincinnati, Ohio
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