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December 25, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Drafting Services Loan | ||||
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Michigan Small Business Funding
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Getting an SBA Loan for Drafting ServicesLooking for commercial loans for drafting services? The SBA may be the answer. This $41,060 drafting services loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grand Rapids, Michigan was able to borrow $41,060 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $34,901 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: DRAFTING SERVICES SBA Loan Lender FIFTH THIRD BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541340 - Drafting Services Loan Approval Date 3/3/2004 Loan Approval Gross Amount $41,060 Loan Approval from the SBA Of the total $41,060 loan amount, the SBA guaranteed $34,901. 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. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Fifth Third Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA Participating Banks in Grand Rapids, Michigan Getting a Business Loan in Michigan
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