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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Pontiac, Business Loans > T & C Fcu Pontiac Business Loans > Landscaping Services Loan | ||||
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Getting a Small Business Loan from T & C Fcu
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T & C Fcu SBA Loan to Landscaping Services CompanyAn SBA loan from T & C Fcu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Davisburg, Michigan business owner got a $30,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Davisburg, Michigan was able to borrow $30,000 from T & C Fcu. The SBA made the loan possible by guaranteeing $10,800 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender T & C FCU This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 561730 - Landscaping Services Loan Approval Date 10/27/2006 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $10,800. 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 only one employee. The loan application indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Who Lends Money to Small Businesses in Pontiac, Michigan
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