Bank Loans for Professional, Scientific, and Technical Services

With these bank loans for professional, scientific, and technical services, the SBA guarantees the lender that the loan will be repaid. This professional, scientific, and technical services loan for $150,000 was given to a Michigan entrepreneur in 2003.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Grand Haven Bank, out of Grand Haven, Michigan. The loan was granted and they received $150,000 to help grow their Grandville, Michigan business.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
GRANDVILLE, MI 49418

SBA Loan Lender

GRAND HAVEN BANK
333 WASHINGTON AVE
GRAND HAVEN, MI 49417

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

1/23/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Grand Haven Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Incubators

SBA 7A Banks in Grand Haven, Michigan

SBA Lenders in Michigan