Farmington, Michigan Entrepreneur Gets a Business 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.

Getting a small business loan in Farmington, Michigan was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Detroit Commerce Bank. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
FARMINGTON, MI 48336

SBA Loan Lender

DETROIT COMMERCE BANK
645 GRISWOLD ST, STE 70
DETROIT, MI 48226

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

524210 - Insurance Agencies and Brokerages

Loan Approval Date

7/20/2006

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $360,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Equity Financing

SBA 7A Banks for Detroit, Michigan Loans

SBA Lenders in Michigan