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May 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > General Automotive Repair Loan | ||||
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Raising Money in Paw Paw, Michigan With SBA Loans
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Borrowing Money for General Automotive RepairLooking for small business loans for general automotive repair? Talk to a banker who works with the SBA. This $205,000 general automotive repair loan was issued by an Illinois bank. This small firm knew how to go about getting a business bank loan. Based in Paw Paw, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was National City Bank, based in Bannockburn, Illinois. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender NATIONAL CITY BANK This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 8/8/2003 Loan Approval Gross Amount $205,000 Loan Approval from the SBA Of the total $205,000 loan amount, the SBA guaranteed $153,750. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $205,000 loan. Remember, things become real when you believe you can achieve them! 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 - How to Borrow Money Best Banks in Bannockburn, Illinois
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