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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > General Automotive Repair Loan | ||||
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Business Loans for Detroit Business Owners
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Business Loans for General Automotive RepairLooking for business loans for general automotive repair? An SBA loan may be just what you've been looking for. This $40,000 general automotive repair loan was issued by an Ohio bank. This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with National City Bank, out of Cleveland, Ohio. The loan was granted and they received $40,000 to help grow their Detroit, Michigan business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender NATIONAL CITY BANK This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 811111 - General Automotive Repair Loan Approval Date 7/10/2007 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan 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 company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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:
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