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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Greenville, Business Loans > Greenville Community Bank Greenville Business Loans > Transportation Equipment And Supplies Loan | ||||
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SBA Lenders in Michigan
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SBA Loan from Greenville Community Bank Helps Transportation Equipment And Supplies CompanyGreenville Community Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Greenville Community Bank, out of Greenville, Michigan. The loan was granted and they received $260,000 to help grow their Ionia, Michigan business. SBA Loan Borrower COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES SBA Loan Lender GREENVILLE COMMUNITY BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423860 - Transportation Equipment and Supplies Loan Approval Date 9/16/2003 Loan Approval Gross Amount $260,000 Loan Approval from the SBA Of the total $260,000 loan amount, the SBA guaranteed $195,000. 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 2 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Greenville Community 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. Related Links: Borrowing Money from Friends and Family Small Business Banks in Greenville, Michigan
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