Company Gets a Michigan SBA Loan

Would a Michigan SBA loan help your business get to the next level? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs.

You can learn something about getting a small business loan in De Witt, Michigan by studying this loan to a local business, made back in 2000. Banks like Fifth Third Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSERY AND GARDEN CENTERS
DE WITT, MI 48820

SBA Loan Lender

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

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444220 - Nursery and Garden Centers

Loan Approval Date

10/23/2000

Loan Approval Gross Amount

$183,600

Loan Approval from the SBA

Of the total $183,600 loan amount, the SBA guaranteed $137,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fifth Third Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fifth Third Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

Who Lends Money to Small Businesses in Grand Rapids, Michigan

SBA Participating Banks in Michigan