The Huntington National Bank Gives Business Loan to Dentists Company

Business loans in Michigan are tough to come by these days. We take a look at one Michigan business loan, provided by an Ohio bank, that was approved by the SBA.

You can learn something about getting a small business loan in Clawson, Michigan by studying this loan to a local business, made back in 2007. Banks like The Huntington National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
Clawson, MI 48017

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

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

621210 - Dentists

Loan Approval Date

7/26/2007

Loan Approval Gross Amount

$1,145,000

Loan Approval from the SBA

Of the total $1,145,000 loan amount, the SBA guaranteed $858,750.

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 5 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Huntington National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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