Commercial and Service Industry Machinery Manufacturing Bank Loans

Looking for bank loans for commercial and service industry machinery manufacturing? The SBA may be the answer. This $650,000 commercial and service industry machinery manufacturing loan was issued by an Illinois bank.

Getting a small business loan in Westland, Michigan was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Bannockburn, Illinois. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
WESTLAND, MI 48185

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

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

5/11/2005

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 28 employees. The SBA loan application for the borrower indicated that the loan would help generate 28 new jobs and retain 28 existing jobs.

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

Don't forget. To get an SBA loan, you must 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $650,000 loan. Remember, feel the fear, and do it anyway.

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:

Alternative Financing

Small Bank Loans in Bannockburn, Illinois

Getting a Business Loan in Illinois