Growing Company Gets a Michigan Small Business Loan

Want a Michigan bank loan? This Michigan entrepreneur got a bank loan, provided by an Illinois bank that works with the SBA to help small business owners.

Getting a small business loan in Kalamazoo, Michigan was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: MALT BEVERAGES
KALAMAZOO, MI 49061

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2082 - Malt Beverages

NAICS Code

312120 - Breweries

Loan Approval Date

11/2/2000

Loan Approval Gross Amount

$130,900

Loan Approval from the SBA

Of the total $130,900 loan amount, the SBA guaranteed $98,175.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from National City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Illinois SBA 7A Lenders