National City Bank Provides SBA Loan to Buy Big Apple Bagels Franchise

Need a loan to purchase a Big Apple Bagels franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Utica, Michigan and are interested in buying a Big Apple Bagels franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by National City Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BIG APPLE BAGELS
UTICA, MI 48316

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/3/2003

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $161,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big Apple Bagels franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like National City Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Big Apple Bagels

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SBA 7A Banks in Bannockburn, Illinois

Getting an SBA Loan in Illinois