Get an SBA Loan for Video Tape and Disc Rental

With these loans for video tape and disc rental, the SBA guarantees the lender that the loan will be repaid. This video tape and disc rental loan for $40,000 was given to a Michigan entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Lansing, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was National City Bank, based in Indianapolis, Indiana.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
LANSING, MI 48917

SBA Loan Lender

NATIONAL CITY BANK
101 W WASHINGTON ST # 100 E
INDIANAPOLIS, IN 46255

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

6/6/2000

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $32,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Lansing MI, you ought to talk with a local Lansing SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lansing businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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