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May 6, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Maui Wowi Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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National City Bank Provides SBA Loan to Buy Maui Wowi FranchiseBorrowing money to buy a Maui Wowi franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Maui Wowi franchise may simply require a phone call to a local SBA banker. In 2003, National City Bank issued an SBA franchise loan to an entrepreneur in Southfield, Michigan. Because Maui Wowi was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis. SBA Loan Borrower MAUI WOWI SBA Loan Lender NATIONAL CITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 11/10/2003 Loan Approval Gross Amount $105,000 Loan Approval from the SBA Of the total $105,000 loan amount, the SBA guaranteed $52,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Maui Wowi franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $105,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Maui Wowi Fresh Hawaiian Blends Banking Deregulation's Effects on Entrepreneurship Best Banks in Bannockburn, Illinois Getting an SBA Loan in Illinois
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