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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Nondurable Goods Merchant Wholesalers Loan | ||||
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Small Business Banks That Lend to Dearborn Entrepreneurs
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Dearborn, Michigan Entrepreneur Gets a Business LoanMichiganSmall business loans are available to Michigan small business owners through the SBA. In this case, an Ohio bank provides the loan. Getting a small business loan in Dearborn, Michigan was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender NATIONAL CITY BANK The lender provided this SBA business loan 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 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 12/13/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Small Bank Loans in Cleveland, Ohio
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