Company Gets a Michigan Small Business Loan

MichiganSBA loans are available to Michigan entrepreneurs through the SBA. In this case, a Wisconsin bank provides the loan.

This small business, based in Holly, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Guaranty Bank. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES
Holly, MI 48442

SBA Loan Lender

GUARANTY BANK
4000 W BROWN DEER RD
MILWAUKEE, WI 53209

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

541690 - Scientific and Technical Consulting Services

Loan Approval Date

8/21/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 7 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Holly MI, you ought to talk with a local Holly SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Holly businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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