Lessors of Nonresidential Buildings Small Business Loans

With these small business loans for lessors of nonresidential buildings, the SBA guarantees the lender that the loan will be repaid. This lessors of nonresidential buildings loan for $1,327,500 was given to a Michigan entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in Grand Rapids, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was United Bank Of Michigan, based in Grand Rapids, Michigan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
GRAND RAPIDS, MI 49508

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

7/25/2002

Loan Approval Gross Amount

$1,327,500

Loan Approval from the SBA

Of the total $1,327,500 loan amount, the SBA guaranteed $995,625.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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