Lansing, Michigan Lender Lends Money to Medicinal And Botanical Manufacturing Company

Get to know Lansing, Michigan banks that specialize in business loans and know how to work with entrepreneurs. Lasalle Bank Midwest 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 Lasalle Bank Midwest. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MEDICINAL AND BOTANICAL MANUFACTURING
GRAND RAPIDS, MI 49503

SBA Loan Lender

LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933

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

325411 - Medicinal and Botanical Manufacturing

Loan Approval Date

6/25/2004

Loan Approval Gross Amount

$723,000

Loan Approval from the SBA

Of the total $723,000 loan amount, the SBA guaranteed $542,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 11 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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