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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 > Logging Loan | ||||
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Getting an SBA 7A Loan in Casnovia, Michigan
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Casnovia, Michigan Entrepreneur Gets a Business LoanSmall business loans in Michigan are are few and far betweeen these days. We take a look at one Michigan small business loan, provided by a Michigan bank, that was approved by the SBA. By giving the right information to Fifth Third Bank, this Casnovia, Michigan business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: LOGGING SBA Loan Lender FIFTH THIRD BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 113310 - Logging Loan Approval Date 7/30/2004 Loan Approval Gross Amount $170,500 Loan Approval from the SBA Of the total $170,500 loan amount, the SBA guaranteed $127,875. 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 16 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We can help you find the best banks for small businesses in Casnovia or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Small Bank Loans in Grand Rapids, Michigan SBA Participating Banks in Michigan
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