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