Get an SBA Loan for Direct Selling Establishments

Looking for loans for direct selling establishments? Talk to a banker who works with the SBA. This $293,000 direct selling establishments loan was issued by a Michigan bank.

Getting a small business loan in Grand Haven, Michigan was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Grand Haven Bank, operating out of Grand Haven, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
GRAND HAVEN, MI 49417

SBA Loan Lender

GRAND HAVEN BANK
333 WASHINGTON AVE
GRAND HAVEN, MI 49417

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

8/6/2003

Loan Approval Gross Amount

$293,000

Loan Approval from the SBA

Of the total $293,000 loan amount, the SBA guaranteed $219,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

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 Grand Haven Bank 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:

Borrowing Money from Friends and Family

Good Banks for Small Business in Grand Haven, Michigan

SBA Michigan Lenders