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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 > Full-Service Restaurants Loan | ||||
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National City Bank Small Business Loan
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Getting an SBA Loan for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $48,000 full-service restaurants loan was issued by an Illinois bank. Getting a small business loan in Lansing, Michigan was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Bannockburn, Illinois. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS 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 722110 - Full-Service Restaurants Loan Approval Date 7/18/2001 Loan Approval Gross Amount $48,000 Loan Approval from the SBA Of the total $48,000 loan amount, the SBA guaranteed $40,800. 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 80 employees. The SBA loan application for the borrower indicated that the loan would help retain 80 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Borrow Money Banks in Bannockburn, Illinois
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