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May 7, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Sound Recording Studios Loan | ||||
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Best Banks That Lend to Chicago Small Business Owners
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Company Gets an Illinois Business LoanIllinoisSBA loans are available to Illinois entrepreneurs through the SBA. In this case, an Ohio bank provides the loan. Getting a small business loan in Chicago, Illinois was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: SOUND RECORDING STUDIOS SBA Loan Lender NATIONAL CITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 512240 - Sound Recording Studios Loan Approval Date 11/13/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from National City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks for Cleveland, Ohio Loans
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