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November 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Convenience Stores Loan | ||||
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Kalamazoo, Michigan Bank for SBA Loans
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Convenience Stores Business LoansLooking for business loans for convenience stores? An SBA loan may be just what you've been looking for. This $415,000 convenience stores loan was issued by a Michigan bank. This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $415,000 to help grow their Kalamazoo, Michigan business. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender FIFTH THIRD BANK This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445120 - Convenience Stores Loan Approval Date 5/5/2006 Loan Approval Gross Amount $415,000 Loan Approval from the SBA Of the total $415,000 loan amount, the SBA guaranteed $311,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: SBA 7A Lenders in Grand Rapids, Michigan
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