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November 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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Michigan SBA Banks
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Grand Rapids, Michigan Lender Lends Money to Gasoline Stations With Convenience Stores CompanyThinking about meeting with a Grand Rapids, Michigan bank about an SBA loan? Here's one Michigan business loan, issued by a Grand Rapids bank, that was approved by the SBA. Applying for an SBA loan with Fifth Third Bank worked out well for our friends at one local company in Detroit, Michigan. They received an SBA loan for $825,000. Great job! SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender FIFTH THIRD BANK This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 8/3/2004 Loan Approval Gross Amount $825,000 Loan Approval from the SBA Of the total $825,000 loan amount, the SBA guaranteed $618,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to borrow money from friends and family, 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: Best Banks in Grand Rapids, Michigan
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