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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Ann Arbor, Business Loans > Fidelity Bank Ann Arbor Business Loans > Engineering Services Loan | ||||
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How Do We Get a Business Loan in Ann Arbor, Michigan?
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Borrowing Money for Engineering ServicesLooking for small business loans for engineering services? Talk to a banker who works with the SBA. This $150,000 engineering services loan was issued by a Michigan bank. Getting a small business loan in Ann Arbor, Michigan was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Fidelity Bank, operating out of Ann Arbor, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender FIDELITY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541330 - Engineering Services Loan Approval Date 12/27/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 45 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Fidelity Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Realistic Debt Financing Options Small Bank Loans in Ann Arbor, Michigan
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