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May 5, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > General Merchandise Stores Loan | ||||
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Raising Money in Detroit, Michigan With SBA Loans
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How to Get a Loan for General Merchandise StoresLooking for business loans for general merchandise stores? Try the SBA. This $10,500 general merchandise stores loan was issued by an Ohio bank. This small business knew how to go about getting a business bank loan. Based in Detroit, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was National City Bank, based in Cleveland, Ohio. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender NATIONAL CITY BANK This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 452990 - General Merchandise Stores Loan Approval Date 11/15/2007 Loan Approval Gross Amount $10,500 Loan Approval from the SBA Of the total $10,500 loan amount, the SBA guaranteed $5,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Determining Proper Capital Structure for a Business Who Lends Money to Small Businesses in Cleveland, Ohio
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