Lansing, Michigan Bank Lends Money to Shoe Repair Shops And Shoeshine Parlors Company in Farmington, Michigan

Get to know Lansing, Michigan banks that specialize in SBA loans and know how to work with entrepreneurs. Lasalle Bank Midwest is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Farmington, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Lasalle Bank Midwest. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SHOE REPAIR SHOPS AND SHOESHINE PARLORS
FARMINGTON, MI 48302

SBA Loan Lender

LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7251 - Shoe Repair Shops and Shoeshine Parlors

Loan Approval Date

7/21/2000

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 generate 26 new jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Lasalle Bank Midwest and they will explain how you can get an SBA loan for your company.

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:

Direct Public Offerings

Where to Get an SBA Loan in Lansing, Michigan

Getting an SBA Loan in Michigan