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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Image Sun Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Detroit, MI Entrepreneur Gets SBA Loan to Buy Beach Bums Tanning FranchiseNeed money to buy a Beach Bums Tanning franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA. Beach Bums Tanning franchise loans are available to Detroit, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National City Bank, based in Bannockburn, Illinois, issued an SBA franchise loan for a Beach Bums Tanning franchise in 2003. We've got all the details on this Michigan small business loan. SBA Loan Borrower IMAGE SUN SBA Loan Lender NATIONAL CITY BANK 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 812990 - Personal Services Loan Approval Date 9/3/2003 Loan Approval Gross Amount $176,000 Loan Approval from the SBA Of the total $176,000 loan amount, the SBA guaranteed $132,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Beach Bums Tanning franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to borrow money from friends and family, 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: Obtaining Funding - How to Decide How Much to Raise SBA Approved Banks in Bannockburn, Illinois Where to Get an SBA Loan Illinois
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