Michigan Entrepreneur Secures Financing to Buy The UPS Store Franchise

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

Getting money to buy a The UPS Store franchise may simply require a phone call to a local SBA banker. In 2003, National City Bank issued an SBA franchise loan to an entrepreneur in Bay City, Michigan. Because The UPS Store was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

THE UPS STORE, A PARTNERSHIP
BAY CITY, MI 48706

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561910 - Packaging and Labeling Services

Loan Approval Date

11/10/2003

Loan Approval Gross Amount

$114,100

Loan Approval from the SBA

Of the total $114,100 loan amount, the SBA guaranteed $96,985.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a The UPS Store franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company.

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:

The UPS Store

How Much Venture Capital Is There?

Best Bannockburn, Illinois Banks for Small Business

Browse All Business Loan Sources for Illinois