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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Holland, Business Loans > Macatawa Bank Holland Business Loans > Personal Care Services Loan | ||||
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SBA Lenders Michigan
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Entrepreneur Works With Holland, Michigan Bank to Get an SBA LoanA Holland, Michigan small business loan can be yours. Learn how a company got a $226,000 business loan from this Michigan bank. This loan to an entrepreneur is a good example of an SBA loan. Macatawa Bank made the loan and the SBA guaranteed a portion of the loan. Many other Michigan entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: PERSONAL CARE SERVICES SBA Loan Lender MACATAWA BANK This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 812199 - Personal Care Services Loan Approval Date 5/27/2004 Loan Approval Gross Amount $226,000 Loan Approval from the SBA Of the total $226,000 loan amount, the SBA guaranteed $113,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 21 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 21 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Macatawa Bank 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: SBA Participating Banks in Holland, Michigan
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