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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Hamtramck, Business Loans > Peoples State Bank Hamtramck Business Loans > General Freight Trucking, Local Loan | ||||
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Business Loan from Peoples State Bank
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Hamtramck, Michigan Business Gets SBA-Guaranteed Funding from Peoples State BankAn SBA loan from Peoples State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hamtramck, Michigan business owner got a $22,300 loan. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Peoples State Bank, out of Hamtramck, Michigan. The loan was granted and they received $22,300 to help grow their Hamtramck, Michigan business. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender PEOPLES STATE BANK 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 484110 - General Freight Trucking, Local Loan Approval Date 1/26/2007 Loan Approval Gross Amount $22,300 Loan Approval from the SBA Of the total $22,300 loan amount, the SBA guaranteed $11,150. 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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoples State 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: Obtaining Funding From a Venture Capitalist SBA Approved Banks in Hamtramck, Michigan
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