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May 12, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Musical Instrument And Supplies Stores Loan | ||||
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SBA Lenders Ohio
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Cincinnati, Ohio Bank Lends Money to Musical Instrument And Supplies Stores Company in Minneapolis, MinnesotaWant to talk with a Cincinnati, Ohio bank about an SBA loan? Here's one Minnesota 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 Minneapolis, Minnesota. They got an SBA loan for $607,500. Sweet! SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES 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 451140 - Musical Instrument and Supplies Stores Loan Approval Date 5/12/2006 Loan Approval Gross Amount $607,500 Loan Approval from the SBA Of the total $607,500 loan amount, the SBA guaranteed $455,625. 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 9 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This SBA loan was for $607,500. How would you spend $607,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Determining Proper Capital Structure for a Business Who Lends Money to Small Businesses in Cincinnati, Ohio
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