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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Benton Harbor, Business Loans > Chemical Bank Benton Harbor Business Loans > Personal Care Services Loan | ||||
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SBA Lender Kalamazoo
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Chemical Bank SBA Loan to Personal Care Services CompanyAn SBA loan from Chemical Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kalamazoo, Michigan business owner got a $150,000 loan. This business knew how to go about getting a business bank loan. Based in Kalamazoo, Michigan, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Chemical Bank, based in Benton Harbor, Michigan. SBA Loan Borrower COMPANY TYPE: PERSONAL CARE SERVICES SBA Loan Lender CHEMICAL BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812199 - Personal Care Services Loan Approval Date 2/18/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. 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. Related Links: SBA Approved Banks in Benton Harbor, Michigan
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