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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Sound Recording Studios Loan | ||||
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Small Business Banks That Lend to Michigan Small Business Owners
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Local Business Gets a Michigan SBA LoanBusiness loans in Michigan are hard to find these days. We take a look at one Michigan business loan, provided by an Illinois bank, that was approved by the SBA. You can learn something about getting a small business loan in Royal Oak, Michigan by studying this loan to a local business, made back in 2004. Banks like National City Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: SOUND RECORDING STUDIOS SBA Loan Lender NATIONAL CITY BANK The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 512240 - Sound Recording Studios Loan Approval Date 5/19/2004 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business If you need money to start business in Royal Oak MI, you ought to talk with a local Royal Oak SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Royal Oak businesses. 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 $75,000 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: The Friends and Family Network Best Banks for Small Business in Bannockburn, Illinois SBA Participating Banks in Illinois
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