Entrepreneur Works With Detroit, Michigan Bank to Get an SBA Loan

Get business loans from a Detroit, Michigan bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Detroit Commerce Bank is a Detroit, Michigan small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Michigan company.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND INSTRUCTION
FARMINGTON, MI 48331

SBA Loan Lender

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

This lender provides SBA 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

611699 - Schools and Instruction

Loan Approval Date

3/30/2006

Loan Approval Gross Amount

$1,360,000

Loan Approval from the SBA

Of the total $1,360,000 loan amount, the SBA guaranteed $1,020,000.

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 7 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Farmington MI, you ought to talk with a local Farmington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Farmington businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Detroit Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Detroit, Michigan

Getting a Business Loan in Michigan