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May 11, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Limousine Service Loan | ||||
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Mt Prospect, Illinois Bank Loan
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National City Bank Gives Business Loan to Limousine Service CompanyIllinoisSmall business loans are available to Illinois small business owners through the SBA. In this case, an Ohio bank provides the loan. This company, based in Mt Prospect, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from National City Bank. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: LIMOUSINE SERVICE SBA Loan Lender NATIONAL CITY BANK The lender provided this debt financing 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 485320 - Limousine Service Loan Approval Date 3/29/2007 Loan Approval Gross Amount $38,400 Loan Approval from the SBA Of the total $38,400 loan amount, the SBA guaranteed $19,200. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Obtaining Funding From a Venture Capitalist SBA 7A Banks in Cleveland, Ohio
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