United Bank Of Michigan SBA Loan to Cosmetics, Beauty Supplies, And Perfume Stores Company

United Bank Of Michigan has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with United Bank Of Michigan, out of Grand Rapids, Michigan. The loan was granted and they received $88,300 to help grow their Grand Rapids, Michigan business.

SBA Loan Borrower

COMPANY TYPE: COSMETICS, BEAUTY SUPPLIES, AND PERFUME STORES
GRAND RAPIDS, MI 49507

SBA Loan Lender

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

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

9/2/2003

Loan Approval Gross Amount

$88,300

Loan Approval from the SBA

Of the total $88,300 loan amount, the SBA guaranteed $66,225.

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. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Financing Your Business

SBA 7A Lenders in Grand Rapids, Michigan

SBA Michigan Banks