Loan Census Banking News and Information
December 22, 2024  
 
 
  Business Loan Information  
 

Cleveland, Ohio SBA 7A Banks

 

 
Loan Census SBA Loan Info

Entrepreneur Works With Cleveland, Ohio Bank to Get an SBA Loan

Want to talk with a Cleveland, Ohio bank about a business loan? Here's one Michigan business loan, issued by a Cleveland bank, that was approved by the SBA.

Applying for an SBA loan with National City Bank worked out well for our friends at one local company in Maple City, Michigan. The business was able to get an SBA loan for $126,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Maple City, MI 49664

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/24/2007

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $94,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 11 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Realistic Debt Financing Options

SBA Banks in Cleveland, Ohio

Ohio SBA 7A Lenders