Get an SBA Loan for Specialty Trade Contractors

Looking for bank loans for specialty trade contractors? An SBA loan may be just what you've been looking for. This $150,000 specialty trade contractors loan was issued by a Michigan bank.

Getting a small business loan in Clinton Township, Michigan was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Grand Rapids, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
CLINTON TOWNSHIP, MI 48038

SBA Loan Lender

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

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

6/2/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Clinton Township MI, you ought to talk with a local Clinton Township SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Clinton Township 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:

How Equity Dilution Works

SBA 7A Banks for Grand Rapids, Michigan Loans

SBA Michigan Banks