Industrial Supplies Wholesalers SBA Loans

With these SBA loans for industrial supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial supplies wholesalers loan for $125,000 was given to a Michigan entrepreneur in 2004.

Getting a small business loan in Grand Ledge, Michigan was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Summit Community Bank, operating out of East Lansing, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES WHOLESALERS
GRAND LEDGE, MI 48837

SBA Loan Lender

SUMMIT COMMUNITY BANK
1600 ABBOTT RD
EAST LANSING, MI 48823

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421840 - Industrial Supplies Wholesalers

Loan Approval Date

4/5/2004

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $125,000. How would you spend $125,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Business Credit Evaluation

SBA Participating Banks in East Lansing, Michigan

Michigan SBA Bank Lenders