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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Alma, Business Loans > Commercial Bank Alma Business Loans > Liquefied Petroleum Gas Dealers Loan | ||||
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SBA Loans from Commercial Bank
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Ithaca, Michigan Business Gets SBA-Guaranteed Funding from Commercial BankCommercial Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ithaca, Michigan was able to borrow $125,000 from Commercial Bank. The SBA made the loan possible by guaranteeing $62,500 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: LIQUEFIED PETROLEUM GAS DEALERS SBA Loan Lender COMMERCIAL BANK This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 454312 - Liquefied Petroleum Gas Dealers Loan Approval Date 8/24/2005 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. 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 6 employees. The loan application indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $125,000 loan. Remember, feel the fear, and do it anyway. 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: Obtaining Funding - Friends and Family Find an SBA Lender in Michigan
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