How to Get a Loan for Schools and Instruction

With these SBA loans for schools and instruction, the SBA guarantees the lender that the loan will be repaid. This schools and instruction loan for $132,400 was given to a Michigan entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in Highland, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Lasalle Bank Midwest, based in Lansing, Michigan.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND INSTRUCTION
HIGHLAND, MI 48357

SBA Loan Lender

LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933

This lender provides SBA debt financing 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.

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

8/30/2001

Loan Approval Gross Amount

$132,400

Loan Approval from the SBA

Of the total $132,400 loan amount, the SBA guaranteed $112,540.

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 loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

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 Lasalle Bank Midwest 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:

Obtaining Funding - Getting Venture Capital

SBA Participating Banks in Lansing, Michigan

Getting an SBA Loan in Michigan