Janitorial Services Loans

With these loans for janitorial services, the SBA guarantees the lender that the loan will be repaid. This janitorial services loan for $650,000 was given to a Michigan entrepreneur in 2005.

Getting a small business loan in Hudsonville, Michigan was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Kent Commerce Bank, operating out of Kentwood, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
HUDSONVILLE, MI 49426

SBA Loan Lender

KENT COMMERCE BANK
4050 LAKE DR SE
KENTWOOD, MI 49546

This lender provides SBA guaranteed business 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.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 130 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 130 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Kent Commerce 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:

504 Loans

Where to Get an SBA Loan in Kentwood, Michigan

Michigan SBA 7A Lenders