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May 4, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Painting And Wall Covering Loan | ||||
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U.S. Bank National Association
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Business Loan from U.S. Bank National Association Given to Painting And Wall Covering CompanyU.S. Bank National Association has a track record as a leading provider of SBA loans. Find out how this Colorado entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Englewood, Colorado was able to borrow $175,500 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $131,625 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235210 - Painting and Wall Covering Loan Approval Date 1/30/2002 Loan Approval Gross Amount $175,500 Loan Approval from the SBA Of the total $175,500 loan amount, the SBA guaranteed $131,625. 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 8 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 5 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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:
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