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May 17, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Beauty Shops Loan | ||||
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Bannockburn Lenders
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Bannockburn, Illinois Bank Lends Money to Beauty Shops Company in Saline, MichiganA Bannockburn, Illinois business loan can be yours. Learn how one firm got a $60,000 business loan from this Illinois bank. This loan to an entrepreneur is a good example of an SBA loan. National City Bank made the loan and the SBA guaranteed a portion of the loan. Many other Michigan entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender NATIONAL CITY BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 1/27/2000 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $48,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 10 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Accountant's Role in Securing Financing Best Bannockburn, Illinois Banks for Small Business
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