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May 11, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Construction And Mining Machinery And Equipment Merchant Loan | ||||
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Business Loan from National City Bank
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Business Loan from National City Bank Given to Construction And Mining Machinery And Equipment Merchant CompanyNational City Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Indiana entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Butlerville, Indiana, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was National City Bank, based in Cleveland, Ohio. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT MERCHANT SBA Loan Lender NATIONAL CITY BANK The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 423810 - Construction and Mining Machinery and Equipment Merchant Loan Approval Date 4/16/2007 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. If you need emergency money for small businesses, 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: SBA Approved Banks in Cleveland, Ohio SBA Participating Banks in Ohio
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