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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > Landscaping Services Loan | ||||
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SBA Lenders in Michigan
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Get an SBA Loan for Landscaping ServicesLooking for small business loans for landscaping services? An SBA loan may be just what you've been looking for. This $10,800 landscaping services loan was issued by an Indiana bank. Getting a small business loan in Dowaglac, Michigan was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from 1st Source Bank, operating out of South Bend, Indiana. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender 1ST SOURCE BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 7/12/2007 Loan Approval Gross Amount $10,800 Loan Approval from the SBA Of the total $10,800 loan amount, the SBA guaranteed $5,400. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. 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:
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