Company Gets a Michigan SBA Loan
MichiganSBA loans are available to Michigan entrepreneurs through the SBA. In this case, an Illinois bank provides the loan.
You can learn something about getting a small business loan in Grand Rapids, Michigan by studying this loan to a local business, made back in 2003. Banks like National City Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
GRAND RAPIDS, MI 49523
SBA Loan Lender
NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015
This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
541990 - Professional, Scientific, and Technical Services
Loan Approval Date
8/1/2003
Loan Approval Gross Amount
$20,000
Loan Approval from the SBA
Of the total $20,000 loan amount, the SBA guaranteed $10,000.
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 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
This SBA loan was for $20,000. How would you spend $20,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Equity Financing
SBA 7A Banks in Bannockburn, Illinois
SBA Lenders in Illinois