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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 > Home And Garden Equipment Repair And Maintenance Loan | ||||
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Detroit, Michigan Bank Loan
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Where to Get Capital for Home and Garden Equipment Repair and MaintenanceLooking for small business loans for home and garden equipment repair and maintenance? The SBA may be the answer. This $10,000 home and garden equipment repair and maintenance loan was issued by an Illinois bank. This small firm knew how to go about getting a business bank loan. Based in Detroit, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was National City Bank, based in Bannockburn, Illinois. SBA Loan Borrower COMPANY TYPE: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE SBA Loan Lender NATIONAL CITY BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 811411 - Home and Garden Equipment Repair and Maintenance Loan Approval Date 12/13/2004 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 2 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. 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: Advice on Getting a Small Business Loan SBA 7A Banks in Bannockburn, Illinois
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