Borrowing Money for Advertising Agencies

With these loans for advertising agencies, the SBA guarantees the lender that the loan will be repaid. This advertising agencies loan for $73,200 was given to a Michigan entrepreneur in 2002.

Getting a small business loan in Grand Rapids, Michigan was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from United Bank Of Michigan, operating out of Grand Rapids, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: ADVERTISING AGENCIES
GRAND RAPIDS, MI 49503

SBA Loan Lender

UNITED BANK OF MICHIGAN
900 E PARIS AVE SE
GRAND RAPIDS, MI 49546

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7311 - Advertising Agencies

NAICS Code

541810 - Advertising Agencies

Loan Approval Date

10/24/2002

Loan Approval Gross Amount

$73,200

Loan Approval from the SBA

Of the total $73,200 loan amount, the SBA guaranteed $62,220.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Choosing VC Firms

Small Business Banks in Grand Rapids, Michigan

Getting an SBA Loan in Michigan