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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Mercantile Bank Of Michigan Grand Rapids Business Loans > Telephone Communications Loan | ||||
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SBA Lenders Michigan
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Entrepreneur Works With Grand Rapids, Michigan Bank to Get an SBA LoanA Grand Rapids, Michigan SBA loan can be yours. Learn how a business got a $775,000 business loan from this Michigan bank. This loan to a local firm is a good example of an SBA loan. Mercantile Bank Of Michigan made the loan and the SBA guaranteed a portion of the loan. Many other Michigan entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: TELEPHONE COMMUNICATIONS SBA Loan Lender MERCANTILE BANK OF MICHIGAN This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4813 - Telephone Communications Loan Approval Date 8/29/2000 Loan Approval Gross Amount $775,000 Loan Approval from the SBA Of the total $775,000 loan amount, the SBA guaranteed $581,250. 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 125 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 115 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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. Related Links: SBA 7A Banks for Grand Rapids, Michigan Loans
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