Borrowing Money for General Merchandise Stores

With these small business loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $620,000 was given to a Michigan entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Allendale, Michigan was able to borrow $620,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $465,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
ALLENDALE, MI 49401

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

12/12/2003

Loan Approval Gross Amount

$620,000

Loan Approval from the SBA

Of the total $620,000 loan amount, the SBA guaranteed $465,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Allendale or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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