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November 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Insurance Agents And Brokers Loan | ||||
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Michigan SBA Lenders
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Grand Rapids, Michigan Bank Lends Money to Insurance Agents And Brokers Company in Buffalo Grove, IllinoisA Grand Rapids, Michigan business loan can be yours. Learn how one firm got a $380,000 business loan from this Michigan bank. This loan to a local firm is a good example of an SBA loan. Fifth Third Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENTS AND BROKERS 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. SIC Code 6411 - Insurance Agents and Brokers Loan Approval Date 4/6/2000 Loan Approval Gross Amount $380,000 Loan Approval from the SBA Of the total $380,000 loan amount, the SBA guaranteed $285,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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? SBA 7A Banks in Grand Rapids, Michigan Getting a Business Loan in Michigan
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