Entrepreneur Works With Bannockburn, Illinois Bank to Get an SBA Loan
Get to know Bannockburn, Illinois banks that specialize in business loans and know how to work with entrepreneurs. National City Bank is one such bank, as evidenced by this SBA loan to a growing company.
Finding a small business loan in Taylor, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from National City Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
Taylor, MI 48180
SBA Loan Lender
NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015
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
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
7/13/2005
Loan Approval Gross Amount
$35,000
Loan Approval from the SBA
Of the total $35,000 loan amount, the SBA guaranteed $17,500.
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 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
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 - How to Borrow Money
Who Lends Money to Small Businesses in Bannockburn, Illinois
Browse All Business Loan Sources for Illinois