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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Grocery Stores Loan | ||||
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Illinois Bank SBA Loans
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National City Bank SBA Loan to Grocery Stores CompanyLooking to get a Michigan small business loan? Here's one Michigan business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Atlanta, Michigan, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was National City Bank, based in Bannockburn, Illinois. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender NATIONAL CITY BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores Loan Approval Date 7/11/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - Getting Venture Capital SBA Banks in Bannockburn, Illinois
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