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May 10, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Child Day Care Services Loan | ||||
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PA Small Business Loans from National City Bank
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SBA Loan from National City Bank Helps Child Day Care Services CompanyNational City Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Renfrew, Pennsylvania was able to borrow $250,700 from National City Bank. The SBA made the loan possible by guaranteeing $188,025 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender NATIONAL CITY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 9/12/2007 Loan Approval Gross Amount $250,700 Loan Approval from the SBA Of the total $250,700 loan amount, the SBA guaranteed $188,025. 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 23 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 23 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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