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December 22, 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 > Optometrists Loan | ||||
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Michigan Small Business Funding
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Raising Money for OptometristsLooking for business loans for optometrists? Try the SBA. This $150,000 optometrists loan was issued by a Michigan bank. This small business 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 2004. The lending bank was United Bank Of Michigan, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: OPTOMETRISTS SBA Loan Lender UNITED BANK OF MICHIGAN This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 621320 - Optometrists Loan Approval Date 10/4/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 SBA loan application for the borrower indicated that the funding would help generate 2 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into United Bank Of Michigan and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Who Lends Money to Small Businesses in Grand Rapids, Michigan
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