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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Southfield, Business Loans > First Place Bank Southfield Business Loans > Residential Property Managers Loan | ||||
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First Place Bank Small Business
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SBA Loan from First Place Bank Helps Residential Property Managers CompanyFirst Place Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Jackson, Michigan, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was First Place Bank, based in Southfield, Michigan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL PROPERTY MANAGERS SBA Loan Lender FIRST PLACE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 531311 - Residential Property Managers Loan Approval Date 7/12/2004 Loan Approval Gross Amount $104,000 Loan Approval from the SBA Of the total $104,000 loan amount, the SBA guaranteed $88,400. 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 documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship SBA Banks in Southfield, Michigan Where to Get an SBA Loan Michigan
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