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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > Eating Places Loan | ||||
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National City Bank SBA Loan Libertyville
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Business Loan from National City Bank Given to Eating Places CompanyAn SBA loan from National City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Libertyville, Illinois business owner got a $64,000 loan. This growing company knew how to go about getting a business bank loan. Based in Libertyville, Illinois, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was National City Bank, based in Indianapolis, Indiana. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NATIONAL CITY BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 7/27/2000 Loan Approval Gross Amount $64,000 Loan Approval from the SBA Of the total $64,000 loan amount, the SBA guaranteed $51,200. 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 4 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $64,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Who Lends Money to Small Businesses in Indianapolis, Indiana
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