Local Business Gets a Michigan Small Business Loan
Would a Michigan business loan help your company expand? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs.
Getting a small business loan in Lansing, Michigan was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Lasalle Bank Midwest. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: CHILD AND YOUTH SERVICES
LANSING, MI 48390
SBA Loan Lender
LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
624110 - Child and Youth Services
Loan Approval Date
4/28/2003
Loan Approval Gross Amount
$162,500
Loan Approval from the SBA
Of the total $162,500 loan amount, the SBA guaranteed $81,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 20 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 20 existing jobs.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $162,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Accountant's Role in Securing Financing
Small Bank Loans in Lansing, Michigan
Michigan SBA Bank Lenders