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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Haven, Business Loans > Grand Haven Bank Grand Haven Business Loans > Electronic Component Manufacturing Loan | ||||
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Small Business Loans from Grand Haven Bank
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Grand Haven Bank SBA Loan to Electronic Component Manufacturing CompanyGrand Haven Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans. This business knew how to go about getting a business bank loan. Based in Grand Haven, Michigan, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Grand Haven Bank, based in Grand Haven, Michigan. SBA Loan Borrower COMPANY TYPE: ELECTRONIC COMPONENT MANUFACTURING SBA Loan Lender GRAND HAVEN BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 334419 - Electronic Component Manufacturing Loan Approval Date 6/17/2003 Loan Approval Gross Amount $566,000 Loan Approval from the SBA Of the total $566,000 loan amount, the SBA guaranteed $424,500. 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 35 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees. 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Grand Haven Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Small Bank Loans in Grand Haven, Michigan
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