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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 > Commercial Equipment Merchant Wholesalers Loan | ||||
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Bannockburn Bank Loan
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Entrepreneur Works With Bannockburn, Illinois Bank to Get an SBA LoanThinking about meeting with a Bannockburn, Illinois bank about a 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 company in Troy, Michigan. They got an SBA loan for $40,000. Nice! SBA Loan Borrower COMPANY TYPE: COMMERCIAL EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender NATIONAL CITY BANK This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 423440 - Commercial Equipment Merchant Wholesalers Loan Approval Date 6/3/2005 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: A Company That Helps Entrepreneurs SBA 7A Banks in Bannockburn, Illinois
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