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December 20, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Troy, Business Loans > Lasalle Bank Midwest Troy Business Loans > Chiropractors Loan | ||||
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How to Get SBA Loans in Bloomfield Hills, Michigan
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Financing for ChiropractorsWith these commercial loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $140,000 was given to a Michigan entrepreneur in 2007. Getting a small business loan in Bloomfield Hills, Michigan was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Lasalle Bank Midwest, operating out of Troy, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender LASALLE BANK MIDWEST 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 621310 - Chiropractors Loan Approval Date 12/20/2007 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $70,000. 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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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