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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Haven, Business Loans > Grand Haven Bank Grand Haven Business Loans > Water Well Drilling Loan | ||||
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Grand Haven Bank Small Business Coopersville
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Business Loan from Grand Haven Bank Given to Water Well Drilling CompanyAn SBA loan from Grand Haven Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Coopersville, Michigan business owner got a $150,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Coopersville, Michigan was able to borrow $150,000 from Grand Haven Bank. The SBA made the loan possible by guaranteeing $127,500 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: WATER WELL DRILLING SBA Loan Lender GRAND HAVEN BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1781 - Water Well Drilling NAICS Code 235810 - Water Well Drilling Contractors Loan Approval Date 6/13/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Accountant's Role in Securing Financing Small Bank Loans in Grand Haven, Michigan
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