Lansing, Michigan Business Gets SBA-Guaranteed Funding from Capitol National Bank

An SBA loan from Capitol National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lansing, Michigan business owner got a $257,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Capitol National Bank, out of Lansing, Michigan. The loan was granted and they received $257,000 to help grow their Lansing, Michigan business.

SBA Loan Borrower

COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES
LANSING, MI 48906

SBA Loan Lender

CAPITOL NATIONAL BANK
200 WASHINGTON SQ NORTH
LANSING, MI 48933

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541511 - Custom Computer Programming Services

Loan Approval Date

7/12/2007

Loan Approval Gross Amount

$257,000

Loan Approval from the SBA

Of the total $257,000 loan amount, the SBA guaranteed $192,750.

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 8 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Capitol National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Small Business Loan

SBA Approved Banks in Lansing, Michigan

Getting an SBA Loan in Michigan