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November 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Food Stores Loan | ||||
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Michigan Bank SBA Loans
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Fifth Third Bank SBA Loan to Food Stores CompanySearching for a Michigan small business loan? Here's one Michigan business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Holland, Michigan was able to borrow $205,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $153,750 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FOOD STORES SBA Loan Lender FIFTH THIRD BANK This lender provides SBA guaranteed 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 5499 - Food Stores Loan Approval Date 8/10/2000 Loan Approval Gross Amount $205,000 Loan Approval from the SBA Of the total $205,000 loan amount, the SBA guaranteed $153,750. 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 11 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 7 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $205,000 loan. Remember, you control your own destiny. 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: A Company That Helps Entrepreneurs SBA 7A Lenders in Grand Rapids, Michigan
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