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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 > Specialty Trade Contractors Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Loans for Specialty Trade ContractorsLooking for loans for specialty trade contractors? An SBA loan may be just what you've been looking for. This $850,000 specialty trade contractors loan was issued by a Michigan bank. This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $850,000 to help grow their Burton, Michigan business. SBA Loan Borrower COMPANY TYPE: SPECIALTY TRADE CONTRACTORS SBA Loan Lender FIFTH THIRD BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238990 - Specialty Trade Contractors Loan Approval Date 6/1/2005 Loan Approval Gross Amount $850,000 Loan Approval from the SBA Of the total $850,000 loan amount, the SBA guaranteed $637,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: Best Banks for Small Business in Grand Rapids, Michigan
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