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May 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Piece Goods, Notions, And Dry Goods Merchant Wholesalers Loan | ||||
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Michigan Small Business Funding
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Piece Goods, Notions, and Dry Goods Merchant Wholesalers Bank LoansLooking for bank loans for piece goods, notions, and dry goods merchant wholesalers? Talk to a banker who works with the SBA. This $126,600 piece goods, notions, and dry goods merchant wholesalers loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Traverse City, Michigan was able to borrow $126,600 from National City Bank. The SBA made the loan possible by guaranteeing $63,300 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: PIECE GOODS, NOTIONS, AND DRY GOODS MERCHANT WHOLESALERS SBA Loan Lender NATIONAL CITY BANK This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 424310 - Piece Goods, Notions, and Dry Goods Merchant Wholesalers Loan Approval Date 6/24/2004 Loan Approval Gross Amount $126,600 Loan Approval from the SBA Of the total $126,600 loan amount, the SBA guaranteed $63,300. 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 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you need business start up money in Traverse City MI, you ought to talk with a local Traverse City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Traverse City 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 National City Bank 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: A Company That Helps Entrepreneurs SBA 7A Banks for Bannockburn, Illinois Loans Where to Get an SBA Loan Illinois
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