Michigan Entrepreneur Secures Financing to Buy Management Recruiters Franchise

Need a loan to buy a Management Recruiters franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Management Recruiters franchise requires some effort but others before you have been successful. In 2000, National City Bank issued an SBA franchise loan to an entrepreneur in Grand Haven, Michigan. Because Management Recruiters was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

MANAGEMENT RECRUITERS OF OTTAW
GRAND HAVEN, MI 49417

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7361 - Employment Agencies

NAICS Code

561310 -

Loan Approval Date

12/7/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Management Recruiters franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Management Recruiters International, Inc.

Getting a Small Business Loan

Good Banks for Small Business in Bannockburn, Illinois

SBA Lenders in Illinois