Get an SBA Loan for Lessors of Real Estate Property

With these bank loans for lessors of real estate property, the SBA guarantees the lender that the loan will be repaid. This lessors of real estate property loan for $238,500 was given to a Michigan entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Allen Park, Michigan was able to borrow $238,500 from First Place Bank. The SBA made the loan possible by guaranteeing $119,250 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF REAL ESTATE PROPERTY
ALLEN PARK, MI 48101

SBA Loan Lender

FIRST PLACE BANK
24725 W 12 MILE RD
SOUTHFIELD, MI 48034

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

531190 - Lessors of Real Estate Property

Loan Approval Date

2/17/2005

Loan Approval Gross Amount

$238,500

Loan Approval from the SBA

Of the total $238,500 loan amount, the SBA guaranteed $119,250.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 $238,500 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:

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Banks in Southfield, Michigan

SBA Lenders in Michigan