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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Troy, Business Loans > Lasalle Bank Midwest Troy Business Loans > Sporting And Recreational Goods And Supplies Merchant Wholesalers Loan | ||||
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Troy Lenders
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Entrepreneur Works With Troy, Michigan Bank to Get an SBA LoanThinking about meeting with a Troy, Michigan bank about a small business loan? Here's one Michigan business loan, issued by a Troy bank, that was approved by the SBA. Applying for an SBA loan with Lasalle Bank Midwest worked out well for our friends at one local firm in Dowling, Michigan. The business was able to get an SBA loan for $90,000. Nice! SBA Loan Borrower COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender LASALLE BANK MIDWEST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers Loan Approval Date 3/13/2006 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $45,000. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lasalle Bank Midwest and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Raising VC Money for Social Networking Companies Find an SBA Lender in Troy, Michigan Getting an SBA Loan in Michigan
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