Ann Arbor, MI Entrepreneur Gets SBA Loan to Buy Gymboree Franchise

Borrowing money to buy a Gymboree franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Ann Arbor, Michigan needed money to invest in a Gymboree franchise back in 2004. National City Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

PPJM WORKS LLC DBA GYMBOREE
Ann Arbor, MI 48108

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

8/16/2004

Loan Approval Gross Amount

$81,800

Loan Approval from the SBA

Of the total $81,800 loan amount, the SBA guaranteed $40,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Gymboree franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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