Lansing, Michigan Lender Lends Money to Automotive Repair And Maintenance Company
Thinking about meeting with a Lansing, Michigan bank about an SBA loan? Here's one Michigan business loan, issued by a Lansing bank, that was approved by the SBA.
Applying for an SBA loan with Lasalle Bank Midwest worked out well for our friends at one local business in Canton, Michigan. The business was able to get an SBA loan for $370,000. Awesome!
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
CANTON, MI 48187
SBA Loan Lender
LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933
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
811198 - Automotive Repair and Maintenance
Loan Approval Date
12/9/2004
Loan Approval Gross Amount
$370,000
Loan Approval from the SBA
Of the total $370,000 loan amount, the SBA guaranteed $277,500.
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 6 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.
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.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
The Friends and Family Network
SBA 7A Banks for Lansing, Michigan Loans
Michigan SBA Banks