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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Troy, Business Loans > Lasalle Bank Midwest Troy Business Loans > Barber Shops Loan | ||||
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Troy, Michigan Bank for SBA Loans
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Entrepreneur Works With Troy, Michigan Bank to Get an SBA LoanGet to know Troy, Michigan banks that specialize in small business loans and know how to work with entrepreneurs. Lasalle Bank Midwest is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Brighton, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Lasalle Bank Midwest. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: BARBER SHOPS SBA Loan Lender LASALLE BANK MIDWEST 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 812111 - Barber Shops Loan Approval Date 7/12/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 5 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lasalle Bank Midwest and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: How Much Venture Capital Is There?
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