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December 25, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Drycleaning And Laundry Services Loan | ||||
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Detroit, Michigan Bank Loan
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Local Business Gets a Michigan Business LoanWant a Michigan business loan? This Michigan entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners. This company, based in Detroit, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Innovative Bank. We've got the inside scoop on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 7/16/2003 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $4,250. 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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Innovative 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: Realistic Debt Financing Options Best Banks for Small Business in Oakland, California
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