Business Loan from Keystone Community Bank Given to Insurance Agencies And Brokerages Company

An SBA loan from Keystone Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Allegan, Michigan business owner got a $52,000 loan.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Keystone Community Bank, out of Kalamazoo, Michigan. The loan was granted and they received $52,000 to help grow their Allegan, Michigan business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
ALLEGAN, MI 49010

SBA Loan Lender

KEYSTONE COMMUNITY BANK
107 W MICHIGAN AVE
KALAMAZOO, MI 49007

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.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

3/22/2004

Loan Approval Gross Amount

$52,000

Loan Approval from the SBA

Of the total $52,000 loan amount, the SBA guaranteed $44,200.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Keystone Community Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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SBA Approved Banks in Kalamazoo, Michigan

Michigan SBA Bank Lenders