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May 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Automotive Exhaust System Repair Loan | ||||
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Melvindale, Michigan Bank Loan
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Financing for Automotive Exhaust System RepairWith these loans for automotive exhaust system repair, the SBA guarantees the lender that the loan will be repaid. This automotive exhaust system repair loan for $178,500 was given to a Michigan entrepreneur in 2003. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with National City Bank, out of Bannockburn, Illinois. The loan was granted and they received $178,500 to help grow their Melvindale, Michigan business. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR SBA Loan Lender NATIONAL CITY BANK This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 811112 - Automotive Exhaust System Repair Loan Approval Date 10/17/2003 Loan Approval Gross Amount $178,500 Loan Approval from the SBA Of the total $178,500 loan amount, the SBA guaranteed $89,250. 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 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business If you need money to start business in Melvindale MI, you ought to talk with a local Melvindale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Melvindale businesses. 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks in Bannockburn, Illinois
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