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May 10, 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 > Commercial And Institutional Building Construction Loan | ||||
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Business Loan from U.S. Bank National Association
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Business Loan from U.S. Bank National Association Given to Commercial And Institutional Building Construction CompanyU.S. Bank National Association is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fremont (centerville), California was able to borrow $1,211,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $908,250 of this California small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION 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 233320 - Commercial and Institutional Building Construction Loan Approval Date 8/8/2003 Loan Approval Gross Amount $1,211,000 Loan Approval from the SBA Of the total $1,211,000 loan amount, the SBA guaranteed $908,250. 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 15 employees. The loan application indicated that the loan would help retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Where to Get an SBA Loan in Cincinnati, Ohio Browse All Business Loan Sources for Ohio
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