Bannockburn, Illinois Bank Lends Money to Plate Work Manufacturing Company in Saginaw, Michigan

Thinking about meeting with a Bannockburn, Illinois bank about a small business loan? Here's one Michigan business loan, issued by a Bannockburn 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 business in Saginaw, Michigan. The business was able to get an SBA loan for $1,500,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: PLATE WORK MANUFACTURING
SAGINAW, MI 48602

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332313 - Plate Work Manufacturing

Loan Approval Date

8/20/2002

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $999,990.

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 181 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small business, 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:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Bannockburn, Illinois

Getting an SBA Loan in Illinois