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May 12, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Cleveland, Business Loans > National City Bank Cleveland Business Loans > Women's Clothing Stores Loan | ||||
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Cleveland, Ohio SBA Banks
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Entrepreneur Works With Cleveland, Ohio Bank to Get an SBA LoanWant to talk with a Cleveland, Ohio bank about an SBA loan? Here's one Michigan business loan, issued by a Cleveland bank, that was approved by the SBA. Applying for an SBA loan with National City Bank worked out well for our friends at one local firm in Waterford, Michigan. The business was able to get an SBA loan for $10,500. Awesome! SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender NATIONAL CITY BANK The lender provided this bank loan 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 448120 - Women's Clothing Stores Loan Approval Date 5/3/2007 Loan Approval Gross Amount $10,500 Loan Approval from the SBA Of the total $10,500 loan amount, the SBA guaranteed $5,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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 $10,500 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: Obtaining Funding - Getting Venture Capital Small Bank Loans in Cleveland, Ohio SBA Participating Banks in Ohio
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