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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 > United Bank Of Michigan Grand Rapids Business Loans > Child Day Care Services Loan | ||||
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Michigan SBA Banks
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Grand Rapids, Michigan Bank Lends Money to Child Day Care Services Company in Grand Rapids, MichiganGet to know Grand Rapids, Michigan banks that specialize in SBA loans and know how to work with entrepreneurs. United Bank Of Michigan is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Grand Rapids, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from United Bank Of Michigan. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender UNITED BANK OF MICHIGAN As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 5/19/2004 Loan Approval Gross Amount $260,000 Loan Approval from the SBA Of the total $260,000 loan amount, the SBA guaranteed $195,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the borrowed money would help create 18 new jobs. Great, But How Can I Get an SBA Loan for My Business? If you are raising money in Grand Rapids MI, you ought to talk with a local Grand Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Rapids businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Bank Of Michigan had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Bank Of Michigan made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Family and Friend Investors - Your First Financiers SBA 7A Banks for Grand Rapids, Michigan Loans
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