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April 28, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Cleveland, Business Loans > Keybank National Association Cleveland Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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Cleveland, Ohio Bank for SBA Loans
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Cleveland, Ohio Bank Lends Money to Automotive Parts And Accessories Stores Company in Detroit, MichiganA Cleveland, Ohio small business loan can be yours. Learn how a company got a $480,000 business loan from this Ohio bank. This loan to an entrepreneur is a good example of an SBA loan. Keybank National Association made the loan and the SBA guaranteed a portion of the loan. Many other Michigan entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender KEYBANK NATIONAL ASSOCIATION This lender provides SBA business 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 441310 - Automotive Parts and Accessories Stores Loan Approval Date 12/17/2003 Loan Approval Gross Amount $480,000 Loan Approval from the SBA Of the total $480,000 loan amount, the SBA guaranteed $360,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help generate 14 new jobs and retain 12 existing jobs. Next Steps for Getting an SBA Loan If you want money for new small business in Detroit MI, you ought to talk with a local Detroit SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Detroit businesses. 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 Keybank National Association 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. Related Links: SBA 7A Lenders in Cleveland, Ohio
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