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May 10, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Machine Shops Loan | ||||
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Raising Money in Ogden, Utah With SBA Loans
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Financing for Machine ShopsLooking for loans for machine shops? The SBA may be the answer. This $42,800 machine shops loan was issued by an Ohio bank. This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with U.S. Bank National Association, out of Cincinnati, Ohio. The loan was granted and they received $42,800 to help grow their Ogden, Utah business. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS 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. NAICS Code 332710 - Machine Shops Loan Approval Date 5/10/2005 Loan Approval Gross Amount $42,800 Loan Approval from the SBA Of the total $42,800 loan amount, the SBA guaranteed $32,100. 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 21 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 18 existing jobs. Start the Process for Getting an SBA Loan Today! 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. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Small Bank Loans in Cincinnati, Ohio Browse All Business Loan Sources for Ohio
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