 |
 |
December 22, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Iowa Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Business Services Loan | ||||
 |
||||
Ohio Bank SBA Loans
|
||||
 |
U.S. Bank National Association SBA Loan to Business Services CompanyLooking to get an Iowa business loan? Here's one Iowa business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Urbandale, Iowa, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was U.S. Bank National Association, based in Cincinnati, Ohio. SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICES SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7389 - Business Services Loan Approval Date 4/26/2000 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. 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 2 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 6 new jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 - How to Decide How Much to Raise Where to Get an SBA Loan in Cincinnati, Ohio
|
|
||
|
||||
|
|
||||