Local Business Gets a Michigan Business Loan

Would a Michigan business loan help your company expand? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs.

Getting a small business loan in Howell, Michigan was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Capitol National Bank. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
HOWELL, MI 48114

SBA Loan Lender

CAPITOL NATIONAL BANK
200 WASHINGTON SQ NORTH
LANSING, MI 48933

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

238110 - Poured Concrete Foundation and Structure Contractors

Loan Approval Date

12/10/2007

Loan Approval Gross Amount

$555,000

Loan Approval from the SBA

Of the total $555,000 loan amount, the SBA guaranteed $416,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Howell MI, you ought to talk with a local Howell SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Howell businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Capitol National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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