Livonia, Michigan Entrepreneur Gets a Bank Loan
Would a Michigan SBA loan help your business get to the next level? If so, you may want to talk with this Ohio bank, which offers SBA loans to Michigan entrepreneurs.
You can learn something about getting a small business loan in Livonia, Michigan by studying this loan to a local business, made back in 2006. Banks like National City Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
LIVONIA, MI 48152
SBA Loan Lender
NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114
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
561310 -
Loan Approval Date
11/30/2006
Loan Approval Gross Amount
$72,000
Loan Approval from the SBA
Of the total $72,000 loan amount, the SBA guaranteed $36,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide smart, affordable business financing for small businesses looking to expand.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
Business Line of Credit
SBA 7A Banks in Cleveland, Ohio
Ohio SBA Banks