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November 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Hardware Stores Loan | ||||
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Business Loans for Brighton Businesses
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Get an SBA Loan for Hardware StoresLooking for bank loans for hardware stores? The SBA may be the answer. This $427,000 hardware stores loan was issued by a Michigan bank. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $427,000 to help grow their Brighton, Michigan business. SBA Loan Borrower COMPANY TYPE: HARDWARE STORES SBA Loan Lender FIFTH THIRD BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444130 - Hardware Stores Loan Approval Date 12/8/2000 Loan Approval Gross Amount $427,000 Loan Approval from the SBA Of the total $427,000 loan amount, the SBA guaranteed $320,250. 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 10 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Fifth Third 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: A Company That Helps Entrepreneurs SBA 7A Banks in Grand Rapids, Michigan
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