Loan Census Banking News and Information
December 22, 2024  
 
 
  Business Loan Information  
 

SBA 7A Banks for Burton, Michigan Business Owners

 

 
Loan Census SBA Loan Info

Where to Get Capital for Residential Remodelers

With these small business loans for residential remodelers, the SBA guarantees the lender that the loan will be repaid. This residential remodelers loan for $35,000 was given to a Michigan entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burton, Michigan was able to borrow $35,000 from Capital One. The SBA made the loan possible by guaranteeing $17,500 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL REMODELERS
BURTON, MI 48529

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

The lender provided this SBA 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

236118 - Residential Remodelers

Loan Approval Date

11/30/2006

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

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 18 employees. The SBA loan documents indicated that the loan would help retain 18 existing jobs.

Next Steps for Getting an SBA Loan

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Capital One that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Getting a Small Business Loan

SBA Banks in Mclean, Virginia

Getting an SBA Loan in Virginia