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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Mercantile Bank Of Michigan Grand Rapids Business Loans > Child Day Care Services Loan | ||||
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Grand Rapids, Michigan Bank for SBA Loans
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Grand Rapids, Michigan Lender Lends Money to Child Day Care Services CompanyThinking about meeting with a Grand Rapids, Michigan bank about a small business loan? Here's one Michigan business loan, issued by a Grand Rapids bank, that was approved by the SBA. Applying for an SBA loan with Mercantile Bank Of Michigan worked out well for our friends at one local company in Grand Rapids, Michigan. They received an SBA loan for $40,000. Great job! SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender MERCANTILE BANK OF MICHIGAN This lender processed this SBA small 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. NAICS Code 624410 - Child Day Care Services Loan Approval Date 5/24/2006 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 18 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 22 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Mercantile Bank Of Michigan 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: Best Banks in Grand Rapids, Michigan
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