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May 10, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Retail Stores Loan | ||||
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Clarksdale, Missouri Bank Loan
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Small Business Loans for Store RetailersLooking for small business loans for store retailers? An SBA loan may be just what you've been looking for. This $55,489 store retailers loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clarksdale, Missouri was able to borrow $55,489 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $47,166 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores NAICS Code 453998 - Store Retailers Loan Approval Date 8/10/2001 Loan Approval Gross Amount $55,489 Loan Approval from the SBA Of the total $55,489 loan amount, the SBA guaranteed $47,166. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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: Realistic Debt Financing Options Who Lends Money to Small Businesses in Cincinnati, Ohio
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