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December 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 > Musical Instrument And Supplies Stores Loan | ||||
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Who Lends Money to Ypsilanti Business Owners
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Michigan Small Business Loan Issued to Musical Instrument And Supplies Stores CompanyMichiganBusiness loans are available to Michigan business owners through the SBA. In this case, an Illinois bank provides the loan. Getting a small business loan in Ypsilanti, Michigan was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES SBA Loan Lender NATIONAL CITY BANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451140 - Musical Instrument and Supplies Stores Loan Approval Date 3/19/2001 Loan Approval Gross Amount $436,000 Loan Approval from the SBA Of the total $436,000 loan amount, the SBA guaranteed $327,000. 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 19 employees. The SBA loan documents indicated that the loan would help retain 19 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, 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 firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Dealing With Venture Capitalists Good Banks for Small Business in Bannockburn, Illinois
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