Holland, Michigan Bank Lends Money to Furniture Merchant Wholesalers Company in Holland, Michigan

Thinking about meeting with a Holland, Michigan bank about an SBA loan? Here's one Michigan business loan, issued by a Holland bank, that was approved by the SBA.

Applying for an SBA loan with Macatawa Bank worked out well for our friends at one local firm in Holland, Michigan. The business was able to get an SBA loan for $450,000. Great job!

SBA Loan Borrower

COMPANY TYPE: FURNITURE MERCHANT WHOLESALERS
HOLLAND, MI 49424

SBA Loan Lender

MACATAWA BANK
124 E 8TH ST
HOLLAND, MI 49423

This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423210 - Furniture Merchant Wholesalers

Loan Approval Date

4/6/2006

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

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 9 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Holland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Accountant's Role in Securing Financing

SBA Approved Banks in Holland, Michigan

SBA Lenders in Michigan