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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Holland, Business Loans > Macatawa Bank Holland Business Loans > Caterers Loan | ||||
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Michigan Bank SBA Loans
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SBA Loan from Macatawa Bank Helps Caterers CompanyAn SBA loan from Macatawa Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Grand Haven, Michigan business owner got a $150,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grand Haven, Michigan was able to borrow $150,000 from Macatawa Bank. The SBA made the loan possible by guaranteeing $75,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: CATERERS SBA Loan Lender MACATAWA BANK The lender provided this SBA small 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 722320 - Caterers Loan Approval Date 7/14/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 5 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA 7A Banks in Holland, Michigan Browse All Business Loan Sources for Michigan
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