Cedar Springs, Michigan Business Gets SBA-Guaranteed Funding from Fifth Third Bank

An SBA loan from Fifth Third Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cedar Springs, Michigan business owner got a $150,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Cedar Springs, Michigan, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan.

SBA Loan Borrower

COMPANY TYPE: WOOD PRODUCT MANUFACTURING
CEDAR SPRINGS, MI 49319

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

The lender provided this commercial 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

321999 - Wood Product Manufacturing

Loan Approval Date

2/20/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 12 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 12 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Cedar Springs MI, you ought to talk with a local Cedar Springs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cedar Springs businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Getting a Small Business Loan

SBA Approved Banks in Grand Rapids, Michigan

Getting an SBA Loan in Michigan