Business Loan from National City Bank Given to Schools And Educational Services Company

An SBA loan from National City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Warren, Michigan business owner got a $103,200 loan.

This small firm knew how to go about getting a business bank loan. Based in Warren, Michigan, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was National City Bank, based in Indianapolis, Indiana.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND EDUCATIONAL SERVICES
WARREN, MI 48089

SBA Loan Lender

NATIONAL CITY BANK
101 W WASHINGTON ST # 100 E
INDIANAPOLIS, IN 46255

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8299 - Schools and Educational Services

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

11/30/2001

Loan Approval Gross Amount

$103,200

Loan Approval from the SBA

Of the total $103,200 loan amount, the SBA guaranteed $87,720.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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