Fifth Third Bank SBA Loan to Arrangement Of Transportation Of Freight And Cargo Company

Looking to get a Michigan small business loan? Here's one Michigan business loan that was approved by the SBA.

This small business needed an SBA business loan in Grand Rapids, Michigan back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Grand Rapids, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO
GRAND RAPIDS, MI 49509

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

4731 - Arrangement of Transportation of Freight and Cargo

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Fifth Third Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Grand Rapids, Michigan

Getting an SBA Loan in Michigan