National City Bank Gives Business Loan to Cemeteries And Crematories Company

Bank loans in Michigan are tough to come by these days. We take a look at one Michigan bank loan, provided by an Illinois bank, that was approved by the SBA.

Getting a small business loan in Merrill, 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: CEMETERIES AND CREMATORIES
MERRILL, MI 48637

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

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

812220 - Cemeteries and Crematories

Loan Approval Date

11/22/2000

Loan Approval Gross Amount

$155,000

Loan Approval from the SBA

Of the total $155,000 loan amount, the SBA guaranteed $116,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency business money, 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:

Small Business Credit Cards

Where to Get an SBA Loan in Bannockburn, Illinois

Getting an SBA Loan in Illinois